Nearly half of renters spend more than 30% of income on housing, Census Bureau finds

Nearly half of renters in the U.S. — over 21 million households — spent more than 30% of their income on housing in 2023, according to new Census Bureau data released Thursday.

The bureau said that the U.S. Department of Housing and Urban Development (HUD) considers households cost-burdened when more than 30% of their income is spent on rent, mortgage payments and other housing costs. The bureau also said the data shows the amount of a rented household’s income that goes toward housing costs differs by race.