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News@lemmy.world · 1 month ago

Nearly half of US renters spend more than 30% of their income on housing costs

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Nearly half of US renters spend more than 30% of their income on housing costs

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News@lemmy.world · 1 month ago

Nearly half of US renters spend more than 30% of their income on housing costs | CNN Business

Nearly half of all renter households in the US were cost-burdened in 2023, meaning they paid more than 30% of their income towards housing costs, according to new government data.

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SpaceNoodle@lemmy.world
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1 month ago
I wonder if it’s net or gross.

Besides, it’s not seven figures, just mid-six figures necessary for that.
- expr@programming.dev
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  1 month ago
  The typical “30% on income” advice is based on gross, not net. Which is about 93,000 a year for the median mortgage payment right now.

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