Map Reveals States Where Americans Spending Most on Homes
Summary
A new study by WalletHub shows how much money people spend on housing varies a lot depending on the state they live in. Hawaii is the most expensive state for both homeowners and renters, while states in the Midwest have the lowest housing costs compared to their incomes.Key Facts
- Many Americans pay more than 30% of their income on housing, especially those earning under $30,000.
- Nearly half (49%) of renters in the U.S. are considered cost-burdened, spending too much on rent.
- WalletHub analyzed mortgage, energy costs, and incomes in all 50 states to rank housing affordability.
- Hawaii homeowners spend about 50% of their income on housing, the highest in the country.
- California, Massachusetts, Oregon, and Washington also have high housing costs for owners.
- Midwest states like Iowa, West Virginia, Kansas, Nebraska, and Ohio have the lowest housing cost burdens for homeowners.
- Renters in Hawaii spend over 60% of their income on rent, the highest share nationwide.
- Renters in Oklahoma, Iowa, Utah, South Dakota, and Minnesota spend the least on housing relative to income.
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