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Houstonians spending 30% of income on housing
The Kinder report out this week shows over half of renters in Harris County and Houston are now spending in excess of 30% of their income on housing. When researchers took into consideration other costs of living like transportation, child care, health care, and food - the proportion of Harris County residents burdened by housing may be even higher. Toi Babineaux, Manager of Housing and Legal Services for Harris County, joined FOX 26 to discuss more.
HOUSTON - 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.
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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. The research delves into crucial aspects of renting, including rent increases, cost burdens, single-family rental investors, evictions, and building quality.
According to federal standards, renters who allocate more than 30% of their income to housing are considered "housing cost-burdened."
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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.
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However, when factoring in other essential living expenses like transportation, childcare, food, and healthcare, the situation appears even bleaker. The Kinder Institute estimates that as many as 6 out of 10 Harris County renter households, and almost 9 out of 10 single-parent renter households, may be grappling with housing cost burdens.
The full report is available at https://kinder.rice.edu.