Housing Cost Burdens Fell

Cost Burdens Continue to Strain Renters
Housing cost burdens fell for the third consecutive year, according to the U.S. Census' 2013 American Community Survey. Last year, 39.6 million households spent more than 30 percent of their income on housing, which is a decrease from 40.9 million in 2012 and down from the peak of 42.7 million in 2010. However, housing cost burdens are mostly dropping among home owners, while they continue to strain renters, according to a recent analysis. In 2013, 26 percent of home owners were considered burdened by household expenses (i.e.: spending more than 30 percent of their income on housing), compared to half of all renters at 49 percent. Learn the top 10 reasons renters keep renting.