Even before COVID-19, more than 17 million U.S. households (one in seven) were spending 50 percent or more of their income on housing, forgoing personal and economic stability that safe, decent and affordable housing provides. Now, due to the pandemic and soaring housing costs, there is an even greater burden on low-income households. In 2020, 30% of all households had “unaffordable” rent or mortgage payments, defined as exceeding 30% of monthly household income. This is up 1.5 percentage points from 2019.1
It remains clear that homeownership matters, and not having access to this takes a toll on the health and wellness of families. Cost-burdened households with children spend on average $190 less on food and 70 percent less on healthcare compared to families living in affordable homes.
1 Habitat for Humanity