The Burden of US Housing Costs

What is Burden?

Burden = Monthly housing Cost/ Monthly income

Families who pay more than 30 percent of their income for housing are considered cost burdened and may have difficulty affording necessities such as food, clothing, transportation and medical care. An estimated 12 million renter and homeowner households now pay more than 50 percent of their annual incomes for housing. A family with one full-time worker earning the minimum wage cannot afford the local fair-market rent for a two-bedroom apartment anywhere in the United States.

  • Data Description : a set of housing-unit level datasets that measures the affordability of housing units and the housing cost burdens of households,
    • relative to area median incomes
    • poverty level incomes
    • and Fair Market Rents

Renters have more burden than the owners.

The Burden of housing affordability is increasing through the years.

About 25% of Owners have greater than 30% burden

More that 50% of Renters have greater than 30% of burden

For renters rent is increasing every year

while the salaries remain the same

West region has the highest incline in Rent

Owners mostly have Single family homes

Renters mostly live in Units

Most Owners members live in an adequate space

About 25% of renters live in an inadequate space

Renters by adequacy and bedrooms

Income “Below poverty level” (1 - LTE Poverty) is increasing for renters

Renters utitity is becoming more expensive as compared to rent

Year Built and Rent

Conclusion:

Cost of housing is increasing every year including the Utilities. Salaries are not increasing relative to the cost of housing. Raising the minimum wage will definitley help the housing affordability.

Challenges: Bringing the data from different years together. Not having addresses or the Longitude and Latitude information to create map visualizations.