Increase the opportunities for safe, decent, energy efficient, affordable, accessible and fair housing for all types of households in all neighborhoods. and 5 more... less...
Housing
Housing
Housing - (Copy)
Indicator Data
Indicator Data
Percent of households who rent their homes and spend over 30% or more of income on housing expenses
Current Value
53%
Definition
Story Behind the Curve
The increase in supply of new rental units built in Chittenden County are positively impacting cost burdened renters. Cost burdened renters are those who spend 30% of their income on housing.
This indicator measures the number of renter households with gross rent of 30% or more of income as percentage of all renter households.
Updated: November 2019
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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