CNN —
Nearly half of all renter households in the US were cost-burdened in 2023, meaning they paid more than 30% of their income towards housing costs, according to new government data.
The data, released Thursday as part of the US Census Bureau’s 2023 American Community Survey, underscores the gravity of America’s home-affordability crisis: Not only has buying a home become prohibitively expensive for many Americans, but so too has renting one.
“Housing costs rose between 2022 and 2023 for both homeowners and renters,” Molly Ross, a survey statistician at the Census Bureau, said
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