CNN —Nearly half of all renter households in the US were cost-burdened in 2023, meaning they paid more than 30% of their income towards housing costs, according to new government data.
“Housing costs rose between 2022 and 2023 for both homeowners and renters,” Molly Ross, a survey statistician at the Census Bureau, said in a statement.
Households that spend more than 30% of their income on rent, mortgage payments or other housing costs are considered “cost-burdened” by the US Department of Housing and Urban Development.
In 2023, 56.2% of Black or African American households spent more than 30% of their income on housing costs, compared to 49.7% of the total population.
About 2.5 million, or 30.6%, of Black households were considered “severely cost-burdened,” meaning they spent more than 50% of their income on housing costs in 2023.
Persons:
Molly Ross, Kamala Harris, Donald Trump, Trump
Organizations:
CNN, Survey, Census, US Department of Housing, Urban Development, Federal Reserve
Locations:
Florida, Texas , California , New York, Louisiana, Illinois , Kansas , Minnesota, New Mexico , New York, West Virginia