The burden of housing costs for renters in Harris County and Houston has reached a critical point, as a recent report by the Kinder Institute for Urban Research exposes alarming findings.
More than half of the renters in the region are now spending over 30% of their income on housing expenses, raising concerns about housing affordability and financial stability.Entitled "The 2023 State of Housing in Harris County and Houston," this fourth annual report by the Kinder Institute offers a comprehensive analysis of the local rental housing system.
According to federal standards, renters who allocate more than 30% of their income to housing are considered "housing cost-burdened."Shockingly, the report reveals that in 2021, approximately 51% of Harris County renters were identified as cost-burdened, marking a noticeable increase from the 48% recorded in 2019.However, when factoring in other essential living expenses like transportation, childcare, food, and healthcare, the situation appears even bleaker.
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