Wednesday, September 12, 2007

Housing Costs as Percent of Paychecks

by Calculated Risk on 9/12/2007 10:55:00 AM

From the NY Times: Housing Costs Consumed More of Paychecks in 2006

Housing costs ate up more of the monthly paycheck for millions of Americans in 2006 than the year before, despite signs of a slowdown in the housing market, according to figures made public today by the Census Bureau.
NY Times, Housing CostsClick on map for larger image.
Nationally, half of renters and more than one third of mortgage holders — 37 percent, up from 35 percent in 2005, or a rise of more than 1.5 million households — spent at least 30 percent of their gross income on housing costs, the level many government agencies consider the limit of affordability.