This article was added by the user . TheWorldNews is not responsible for the content of the platform.

Over 1 in 4 American home owners are cash poor, study shows

Miami, Los Angeles and New York City have the highest number of “house poor” residents, with more than four in 10 home owners in each city feeling stretched beyond their means by their housing bills. PHOTO: NYTIMES

More than one-quarter of home owners in the United States are “house poor”, spending more than 30 per cent of their income on housing costs, according to a new study.

Chamber of Commerce, a product research company for real estate agents and entrepreneurs, used numbers from the US Census Bureau to analyse monthly housing costs and median household income in the 170 most populated US cities. The company found that 27.4 per cent of all home owners in its study are “cost-burdened”.

Get exclusive reports and insights with more than 500 subscriber-only articles every month

ST One Digital


No contract

ST app access on 1 mobile device

Unlock these benefits

  • All subscriber-only content on ST app and

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you