Increase the opportunities for safe, decent, energy efficient, affordable, accessible and fair housing for all types of households in all neighborhoods. and 1 more...
Percent of mortgaged owner households who spend over 30% of income on housing expenses
Current Value
21%
Definition
Comparison
Story Behind the Curve
This indicator measures the number of mortgaged owner households with monthly ownership costs of 30% or more of income as a percentage of all mortgaged owner households.
Why Is This Important?
The financial burden of paying a mortgage or rent, insurance, property taxes, utility expenses and other housing related costs is considered un-affordable when these costs are greater than 30% of a household's income. These households are at much higher risk of foreclosure, eviction, homelessness, or frequent moving--all of which harm residents and the community.
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