by Christopher Mazur
“Recently released data from the American Community Survey (ACS) estimates the percentage of “burdened” households, or those that spend at least 35% of their monthly income on housing costs, and provides a 10-year look at the trends from 2008 to 2018.
“Burden Depends on Mortgage Status
“There were 77.7 million owner-occupied housing units in the United States in 2018. Approximately 62% of these homeowners had a mortgage, down 6.5 percentage points from 2008.
“the homeowner spends 35% or more of their monthly household income on mortgage payments, utility bills, real estate taxes, property insurance, and any required condominium or mobile home fees.”