Housing cost burden has worsened

Housing costs are too high relative to income

High rental costs limit savings and economic mobility:

• Half of all renters are rent burdened (paying more than 30% of their income)

• Nearly 3 out of 10 renters are severely rent burdened (paying more than 50% of their income)

Most households who can afford to buy pay significantly less relative to their income.

However, home ownership is too expensive for the bottom half of the income bracket:

• 3 out of 5 lower income households who own their home are severely cost burdened

*Analysis includes those counties in Long Island and Lower Hudson Valley served by regional rail: Dutchess, Nassau, Orange, Putnam, Rockland, Suffolk, Westchester

Percent of Households

Source: HUD Comprehensive Housing Affordability Strategy, ACS 2015-19