Sunday, November 04, 2012

Housing.....LosingGround

the problem is getting worse. Housing and transportation costs rose faster than income during the 2000s, increasing the burden that these costs placed on already stretched budgets. This held true for each of the 25 largest metropolitan areas, though the disparity was greater

in some areas than others. For all households, including homeowners who have paid off their mortgage, housing and transportation together consumed an average of 48 percent of the median household's income by decade's end.

Moderate-income households pay a disproportionate share.

For households earning 50 to 100 percent of the median income of their metropolitan area, nearly three-fifths (59 percent) of income goes to housing and transportation costs. For these households, the growing costs of place1 are particularly burdensome, leaving relatively little

left over for expenses such as food, education, and health care, not to mention savings.

the combined burden of housing and transportation costs is greatest where costs are out of sync with local incomes; these are not always the places with the highest absolute costs.
In some metro areas, such as Washington, DC, Boston, and San Francisco, high costs are matched by relatively high incomes, helping moderate- income households better afford their housing and transportation costs. But other regions, such as Riverside-San Bernardino, CA, Miami, and Los Angeles, have moderate or even high housing and transportation costs in spite of relatively low median incomes. In these metro areas, combined cost burdens for moderate-income households are very high, with average burdens ranging from 65 to 72 percent of household income. 


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