#housing-costs

#housing-costs

My trusty spreadsheet identified this affordability challenge by analyzing 2024 Census Bureau housing data for the 50 states and the District of Columbia. These latest figures detail swings in who's renting, how much they pay, and how many tenant households are financially swamped by rental expenses - that's rent plus utilities exceeding 50% of incomes. Remember, California is the nation's largest rental market with 6.1 million tenant households.

More than 225,000 children are living in poverty when housing costs are accounted for, similar to the levels of child poverty seen during the financial crisis, new research has shown.

Renting is a short-term commitment. You can sign a lease and have the flexibility to move somewhere else after the lease is over Maintenance and repairs are typically handled by the landlord, saving you time and money. Additionally, taxes and other local expenses are also usually covered by the landlord If you live in a city with high property taxes, renting may be more affordable, helping to reduce your monthly payments

The state with the lowest cost of living is Oklahoma, with an overall cost of living index at 85.5, meaning that the cost of living in the state is 14.5% cheaper than it is on average nationwide. This figure is driven largely by the state's very low cost of housing - with a housing cost index value at 70.5, the second lowest in America.

Nearly one in five people aged 55 and over and on low incomes say they want to retire but can't because of housing costs, according to a survey by Crisis.

The cost of renting in the UK has seen a sharp rise over the last few years, increasing by an average of 221 a month in just three years.

Gen Zers reported that they don't pay for their own housing, while parents expect to provide $1,813 monthly for various living expenses in 2025.

"A lot of people have this kind of misconception that homes are cheap," said Melnyk. Over the last few years, he's regularly received inquiries from people outside Nova Scotia who are interested in moving to the province.

Most financial advisors recommend keeping housing costs to 30% or less of your income to maintain financial stability and have room for savings.

In this environment, California must lead. State leaders can do this by boosting revenue streams and making the tax system more fair.

The National Audit Office finds that the costs for accommodating asylum seekers are skyrocketing, predicting total spending may reach £15.3 billion—triple the government's initial estimate.