{"id":317537,"date":"2025-11-25T07:40:31","date_gmt":"2025-11-25T07:40:31","guid":{"rendered":"https:\/\/peraltafinancing.com\/uncategorized\/where-renters-and-owners-face-the-highest-cost-burdens-eye-on-housing\/"},"modified":"2025-11-25T07:40:31","modified_gmt":"2025-11-25T07:40:31","slug":"where-renters-and-owners-face-the-highest-cost-burdens-eye-on-housing","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=317537","title":{"rendered":"Where Renters and Owners Face the Highest Cost Burdens \u2013 Eye On Housing"},"content":{"rendered":"


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The housing affordability crisis continues to disproportionately affect renters, with more than half of renter households experiencing high-cost burdens \u2014 i.e., paying 30% or more of their income on rent and utilities. At the same time, current home owners, buoyed by significant home equity gains and locked in by below-market mortgage rates, are in a more advantageous financial position to weather the growing affordability crisis. According to the latest 2024 American Community Survey (ACS)<\/a>, more than half of all renter households (50.3%), or 23.2 million, are burdened by housing costs. Among home owners, this share is less than a quarter (24.3%) representing 21 million households. As a result, states and counties with higher shares of renters in their housing markets are more likely to have higher overall shares of households with cost burdens.<\/p>\n

\"Renters'<\/div>\n

Geographically, Florida, Nevada, and California have the largest concentration of cost-burdened renters. In Florida, 60% of all renters pay more than 30% of their income on rent and utilities. In Nevada, the share is 57%, and in California, 55% of renters experience housing cost burdens. Even in states with comparatively low renter cost-burden rates\u2014such as South Dakota, Alaska, and North Dakota\u2014more than one-third of renters still spend 30% or more of their income on housing. <\/p>\n

For home owners, cost-burden rates are generally lower, but the geographic pattern mirrors that of renters. California, Florida, and several Northeastern states report the highest shares of cost-burdened home owners. California faces the most severe affordability challenges, with one in three owners paying more than 30% of their income for housing. Florida and Hawaii follow closely, with 31% of existing home owners struggling to afford their homes. <\/p>\n

At the opposite end of the spectrum, nine states in the Midwest and South report that fewer than 20% of homeowners are cost-burdened. West Virginia and North Dakota have the lowest rates, at just 16%. <\/p>\n

\"Owners'<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n\n","protected":false},"excerpt":{"rendered":"

The housing affordability crisis continues to disproportionately affect renters, with more than half of renter households experiencing high-cost burdens \u2014 i.e., paying 30% or more of their income on rent and utilities. At the same time, current home owners, buoyed by significant home equity gains and locked in by below-market mortgage rates, are in a […]<\/p>\n","protected":false},"author":1,"featured_media":317538,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[146596,146597,146598,146599,105541,109953,146600,146601,146602],"tags":[72558,11488,2770,844,8775,13350,1420,16570],"dealstore":[],"offerexpiration":[],"class_list":["post-317537","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-home-sales-and-prices","category-homeownership","category-housing-affordability","category-housing-demand","category-market-trends","category-policy-research","category-state-and-local-data","category-state-data","category-u-s-census-bureau","tag-burdens","tag-cost","tag-eye","tag-face","tag-highest","tag-housing","tag-owners","tag-renters"],"yoast_head":"\nWhere Renters and Owners Face the Highest Cost Burdens \u2013 Eye On Housing - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=317537\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Where Renters and Owners Face the Highest Cost Burdens \u2013 Eye On Housing - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"The housing affordability crisis continues to disproportionately affect renters, with more than half of renter households experiencing high-cost burdens \u2014 i.e., paying 30% or more of their income on rent and utilities. 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