How many households in New York spend too much on housing?
Updates published annually
About 2.9 million in 2023. That’s 38.6% of all New York households. These households spent at least 30% of their total income on rent or mortgage payments and utilities. The Department of Housing and Urban Development considers households that spend more than 30% of their income on housing to be cost-burdened. Cost-burdened households may have less money for other necessities such as food, healthcare, or savings.
In 2023,
2.9M
households were cost burdened
In 2023,
38.6%
of households were cost burdened
The number of cost-burdened households in New York remained at 2.9 million from 2013 to 2023. Cost burden considers both household income and housing costs, so factors affecting either of these can influence the number of burdened households. For example:
- Changes in wages, employment status, or the number of people in a household can impact household income.
- Changes in housing supply/demand or interest rates can affect costs.
A growing or declining US population can also affect the number of cost-burdened households. To counteract this, USAFacts analyzed the percentages of cost-burdened households rather than just the number. This prevents such population changes from skewing the data.
In 2023, 38.6% of New York households were cost burdened, higher than the national average of 32.8%.
In New York, 38.6% of households were cost burdened in 2023.
Share of households that spent at least 30% of their income on housing
Cost burden varies for renters and homeowners. For example, during the Great Recession (2007–2009) unemployment rose, millions of homes entered foreclosure, and rental demand increased. By 2010, cost burden had increased among renters while staying flat among homeowner households.
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Since 2013, the proportion of cost-burdened owner households in New York has decreased from 31.6% to 28.2% in 2023. Meanwhile, cost burden decreased from 53.8% to 51.3% among renter households.
In New York, 51.3% of renter and 28.2% of owner households were cost burdened in 2023.
Share of households that spent at least 30% of their income on housing
In 2019–2023, the share of owner households in metro areas that were cost burdened was 22.3%. The metro areas with the highest and lowest share of cost-burdened owner households were the Miami, FL area at 33.9% (highest) and Columbus, IN area, at 13.0% (lowest). In New York, the highest and lowest were Kingston, NY area at 28.1% and Ithaca, NY area at 15.7%.
Across metro areas, 22.4% of owner households were cost burdened.
Share of owner households that spent at least 30% of their income on housing, 2019–2023
In 2019–2023, the share of renter households in metro areas that were cost burdened was 51.1%. The metro areas in the US with the highest and lowest share of cost-burdened renter households were the Miami, FL area at 63.1% (highest) and Sheboygan, WI area at 31.9% (lowest). In New York, the highest and lowest were Ithaca, NY area at 59.8% and Utica, NY area at 44.3%.
Across metro areas, 51.2% of renter households were cost burdened.
Share of renter households that spent at least 30% of their income on housing, 2019–2023
The difference between the cost-burdened share of owner and renter households was narrowest in the Utica, NY area, where cost burden was 26.9 percentage points higher among renters than owners, and highest in the Ithaca, NY area where the gap was 44.1 percentage points. Within the state overall, the gap was 23.1 percentage points.
The difference between the cost-burdened share of owner and renter households was 44.1 percentage points in the Ithaca, NY area. Within the state overall, the gap was 23.1 percentage points.
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Methodology
USAFacts standardizes data, in areas such as time and demographics, to make it easier to understand and compare.
The analysis was generated with the help of AI and reviewed by USAFacts for accuracy.
