Military Veterans, Some Active-Duty Households Enjoy a Housing Affordability Edge
Active-duty military households spend 24.9% of their incomes on market rent, while veteran households spend 20.1% – significantly less than the 29.6% of income that the typical U.S. household pays for rent in 2019. Service members and veterans also pay a lower share of their incomes on mortgages: 13.4% and 10.9%, respectively, compared with 16% for all U.S. households.
The Housing Reasons Why Latinxs Have Less Wealth Than Whites
Latinxs are becoming homeowners at a higher rate than the overall U.S. population, beginning to close a gap with the white homeownership rate that has tripled since the start of last century. Despite recent gains, the homeownership gap -- currently sitting at 24.7 percentage points -- will take decades to close.
Starting Salaries for Teachers Don’t Pay the Rent
For many teachers, back to school means a return to their regular jobs from summer gigs that supplement their incomes and help them -- literally -- pay the rent. Nationally, the median market-rate rent takes a staggering 46.8% of a starting teacher’s salary.
Musicians Struggle to Afford Housing in ‘Music City’ Nashville
Nashville is known as Music City, but many homes on both the for-sale and rental market remain out of reach for musicians and singers. In the entire Nashville metro area, musicians could afford the monthly mortgage payment in about three-quarters of ZIP codes, thanks to low mortgage interest rates. But the typical musician could afford rent in just five of the Nashville metro area ZIP codes.
10 Most Affordable Markets for Renters
See 10 major metros where people spend less than 25 percent of their area's median income on the rent.
36 Major Metros Where High School Grads Can Afford a Home (Q1 2019 Affordability)
Despite home values climbing for years, the median home in 36 of the country’s 50 largest metro areas is theoretically affordable to households that earn the typical income associated with attaining only a high school diploma.
14 Million Millennials Still Live With Mom
More than 14 million young adults nationwide -- or 21.9% of people ages 23 to 37 -- live with their mothers, up from 12.7% in 2000.
These Low-Income Communities Should Prepare for an Influx of Cash
Local leaders have additional policy options they can layer atop Opportunity Zone investments to achieve their desirable policy outcomes from developments—such as maintaining affordable housing, creating jobs for residents, supporting green building, and so on.
California Home Prices Are So High, Even High-Income Households Can’t Keep Up
The cost of housing in most major California metros has risen so high that the median household cannot reasonably afford a median-priced house, even with a 20 percent down payment.
