What is the homeownership rate in the United States?
About 65.9% in 2023. Nearly 2 out of every 3 households owned their home while the remainder rented.
A data-driven guide to
The trends in housing affordability and subsidized housing
Housing is a key issue impacting many communities across the United States. This guide presents data on subsidized housing availability, rental costs relative to incomes, and homeownership trends to provide a clearer picture of the current housing landscape.
- 1
Burden of housing costs
Housing costs differ based on a number of factors, including location and income. Explore how much American households spend on housing and how many households overspend based on their incomes.
How many households in the US spend too much on housing?
About 40.9 million households in the United States were cost-burdened in 2022. That’s 32.5% of all 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.How much do households in the United States spend on rent?
About $1.3K per month, or 31.7% of their income, in 2022. This is measured by comparing median rent and median monthly income for renting households.
- 2
Subsidized housing
Subsidized housing is government-assisted housing where tenants pay reduced rent based on their income. Explore the issue by the numbers, including housing availability and waiting time.
How many subsidized housing units are available in the United States?
There were about 5.1 million in 2023, of which around 13% were unoccupied and available to rent. Federally subsidized rental housing began with 1937’s US Housing Act, which created the United States Housing Authority and provided financial assistance to state and local governments for housing low-income people. Since then, the government has provided housing assistance to low-income renters through programs overseen by the US Department of Housing and Urban Development (HUD).How many people live in subsidized housing in the United States?
About 9.05 million people in 2023, or about 2.0 people per unit. Subsidized housing options vary by location, ranging from high-rise or garden-style apartments to single-family dwellings, duplexes, and more. On average, residents in 2023 had lived in their units for ten years and two months.How long do people wait for subsidized housing in the United States?
Two years and one month, on average, in 2023. That’s a 42.1% increase since 2009, when recipients spent one year and six months on waiting lists before moving in to subsidized housing.
