Of the more than 113m occupied homes covered in the US Census Bureau’s 2008 American Community Survey, 15.6% have more than $2,000 in monthly housing costs. The survey provides a statistical snapshot of the characteristics of the US population in 2008, including the finances of housing consumers. The data collected by Census Bureau officials determines where more than $400bn goes to state and local governements each year. The Census surveyed roughly 250,000 addresses for the foundation of the data. The total number of family households increased from 2007 by approximately 72,000 units, according to the survey. California homeowners had the highest monthly median housing costs in the country at $2,384. New Jersey narrowly trailed with $2,360. Hawaii, with $2,265, and the District of Columbia, at $2,218, followed. California led all states with 53.3% of the state’s mortgage owners spending 30% of their household’s monthly income on housing costs. Hawaii came in second with 49.3% and Florida was third with 49.1%. Minnesota led the nation with 74.7% of its occupied housing units that are owner-occupied. Michigan and West Virginia rounded out the top three with 74% and 73.7%, respectively. At the bottom was the District of Columbia with 43.4%, New York with 53.3% and California with 57%. Write to Jon Prior.
More than 15% Spend $2,000 in Monthly Housing Costs: US Census
Most Popular Articles
Latest Articles
Pennymac posts first-quarter profit of $39M
Loan production income shrank in the first quarter, but the company’s servicing business continues to grow
-
DOJ charges one of America’s top LOs in alleged mortgage fraud scheme
-
Top Producer Review: Features, pricing & alternatives
-
A&D Mortgage names new servicing manager
-
HUD aims to help protect communities from extreme heat
-
Freedom Mortgage founder addresses ’extraordinary’ credit profiles, profitability and products