New data from Harvard shows that millions of Americans are paying an “excessive” amount of their incomes on housing, but burdens vary widely by city.
The report explains that in 2012 there were 40.9 million families and individuals in "cost-burdened" households, or those paying more than 30% of their income on housing. And while that number is a slight decrease from 2011, it represents an uptick of more than 9 million households from 2002. Minority and lower-income households are particularly suffering, according to the report, and renters in general are faring poorly due to income declines.
The report also explores "severely burdened" households — or those paying more than 50% of their income on housing — and notes that the data is "particularly alarming." In 2012, for example, more than a quarter of all American renters fell into this category. Among black households, 27% were severely burdened, as were 24% of Latino households and 21% of Asian households. Only 14% of white households were severely burdened.
The report includes an interactive map that shows what percentage of a metropolitan area's households are suffering from too-high housing costs. The Los Angeles metro area takes the top spot, with 2.1 million households suffering from cost burdens. That's just shy of 50% of all households in the Los Angeles area:
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