Tag: Housing

Where Does That Paycheck Go? A Lot of It Goes to Housing, Study Says

Almost half of renters in the Birmingham-Hoover metro area spend more than 30 percent of their income on housing costs, a state that a recent report from Harvard University classifies as cost-burdened.

More than a quarter, 27.7 percent, spent more than half of their income on housing, according to the State of the Nation’s Housing report from 2017. Those people are considered severely cost-burdened.

The numbers are fairly close to national averages, according to the report. Nationally, 48 percent of renters spend more than 30 percent of their incomes on housing, compared to the Birmingham area’s 45.9 percent, and 26 percent spend more than half. Read more.