CaRDI comment on housing affordability

Housing Affordability in New York State
In the United States, “housing affordability” is typically measured by the percent of household income spent on housing. If this figure exceeds 30 percent, a household is considered to be housing-cost burdened (those households spending more than 50% of their income on housing are considered severely housing cost burdened). While many households, especially in the higher income brackets, may not actually be “burdened” if their housing costs exceed 30% of their income – their higher costs instead reflecting their choice for larger, more luxurious homes – this issue is much more of a problem for households at middle- and lower-income levels where stagnant or declining incomes combined with rising housing costs have made housing even less affordable.


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