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Community Indicators Home > Economic Independence > EI Ind 4: Housing costs in lower income owner-occupied housing

 

Indicator 4:

Housing costs in low
 income households

Trend
vs. Georgia


 

What does it measure?

This indicator is the percentage of low income (less than $50,000) households in Chatham County where housing costs are equal to or greater than 30% of household income. Housing costs include debt service on mortgages or rent, insurance, utilities, neighborhood association fees, or other rental or leasing fees. The indicator is computed for owner occupied units with a mortgage and renter occupied units.


Why is it important?

Families who spend 30% or more of their income on housing are under great financial stress. They must cope with the unrelenting pressure of prioritizing the allocation of household income among housing costs and basic needs such as food, clothing, health care, child care or other necessities. For these families, income increasing strategies and affordable housing are essential to survive, especially for families who live in urban areas with higher costs of living. According to the U.S. Department of Housing and Urban Development, the definition of affordable housing is housing costs that are less than 30% of annual household income.


How are we doing?

The housing cost burden on low income owner and renter households in Chatham County dropped from 2010 to 2011.  However, the rate in Georgia continued its upward trend in 2011, with 75.0% of these households spending more than 30% of household income on housing.  This marks a 10% increase since 2005 for Georgia. In contrast, the housing cost burden on low income households in Chatham County fell since 2005.

 

LOW INCOME HOUSEHOLDS
SPENDING MORE THAN 30% OF INCOME ON HOUSING COSTS:
OWNER OCCUPIED UNITS WITH MORTGAGE AND RENTER OCCUPIED UNITS
Source: U.S. Census Bureau (American Com. Survey, Table B25106 & B25101)

 


The housing cost burden in low income, renter occupied housing in Chatham County increased from 2010  to 2011. Among these households in 2011, 75.2% spent more than 30% of household income on housing costs, up from 73.0% in 2010. For Georgia, the figure continued its upward trend, rising to 72.2% from 71.3% in 2011. Since 2005, the rate for Georgia increased by nearly ten percentage points.

 

LOW INCOME HOUSEHOLDS
SPENDING MORE THAN 30% OF INCOME ON HOUSING COSTS:
RENTER OCCUPIED UNITS
Source: U.S. Census Bureau (American Community Survey, Table B25106)


 

The housing cost burden in low income, owner occupied housing units with a mortgage in Chatham County decreased substantially from 2010 to 2011. In these households, 76.2% spent more than 30% of household income on housing costs in 2011, down from 85.6% in 2010. For Georgia, the figure increased slightly to 79.5% from 79.2%.

 

LOW INCOME HOUSEHOLDS
SPENDING MORE THAN 30% OF INCOME ON HOUSING COSTS:
OWNER OCCUPIED UNITS WITH A MORTGAGE
Source: U.S. Census Bureau (American Community Survey, Table B25101)

 

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