Individuals and families achieve financial stability and 1 more... less...
1: Access to basic needs
FS-Ind. 1.3: % of Story County renting households spending 30% or more of income in rent
Current Value
51.2%
Definition
Story Behind the Curve
"Expenses such as rent, utility costs and other fees take away money that could be saved or invested in other assets. When these expenses exceed 30% of household income, the household is classified as 'cost-burdened' and is at risk of eviction or homelessness if it suffers a decline in income." (ProsperityNow.org)
In Story County, an astonishing 19% of all rental households are "severely" cost-burdened, meaning they spend over 50% of their income on rent (County Health Rankings, 2020).
FY20-21 note: This data is not yet available for 2020. The Census Bureau notes: "The Census Bureau will not release its standard 2020 ACS 1-year estimates because of the impacts of the COVID-19 pandemic on data collection. Experimental estimates, developed from 2020 ACS 1-year data, will be available on the ACS Experimental Data webpage no later than November 30th."
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