A recent report from the National Housing Conference has moderately good news about the housing market—in many states, the number of working households “severely cost-burdened” by the cost of housing dipped slightly in 2012.
Mike Maciag shares news of a recent report by the National Housing Conference (NHC) that allows a shred of good news among the typically bad news about housing affordability in the United States.
“After years of steady growth, the share of working households considered severely cost-burdened dipped slightly from 23.7 percent in 2011 to 22.1 percent in 2012,” writes Maciag of the report’s findings.
“Between 2009 and 2012, the share of severely cost-burdened working households fell in 30 states, with 13 reporting statistically significant declines.”
The article includes a map of housing affordability in each state, as well as a list of the states with the largest drops in cost-burdened households between those years. Arkansas leads the list, with a 3.8 percent drop.
But it’s still not a good time to be a renter. “Renter households are twice as likely to be cost-burdened as homeowners,” writes Maciag.
Read the full story: Where Do People Spend the Most of Their Paycheck on Housing?
Less than 6% of California cities are building enough housing for very low-income households
Only five jurisdictions are on track to meet their housing goals for all income brackets.
Just 17% of San Diego households can afford the city's $1M+ median home prices
The city is becoming increasingly unaffordable to prospective homebuyers.
Indianapolis rents grew by 30% since 2020
The metro area has a shortage of roughly 137,000 affordable homes for the lowest-income households.
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