Tag Archives: Cost burdens

The average down payment now takes nearly 7.5 years to save up, and the effect that stat is having on the market is adding to the number of cost-burdened Americans nationwide.

While elevated housing costs continue to hinder homebuyers and renters nationwide, a new study from Apartment List revealed that the share of American renters who are cost-burdened has risen to the highest level since 2012, according to recent Census data.

New experimental data from the American Community Survey revealed that cost burdens rose the fastest among families headed by a Black person, as Black renter household rates increased an overall 3.5 percentage points, reaching 51% in 2020.