US housing costs rose last year but rent burden was unchanged - Census ...Middle East

The data shows that real median rental costs increased by 3.8% last year while real median home values rose by 1.8%, via data released as part of the American Community Survey. Meanwhile, the Census Bureau data itself shows that renter households spent 31.0% of their income on housing costs at the median last year. And that is unchanged from 2022.The latter indicates that either renter household incomes were able to keep pace with the rent increase and/or higher-income households are the ones starting to become renters.That said, the data finds that the split is very much varied by race. Within Black or African American renters, 56.2% paid more than 30% of their income on housing costs. That

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