Demographics & Housing Market Conditions
Cost Burden
ASSOCIATES INC
Cost Burden 2018 Cost Burdened Owner vs. Renter Households 2016
Source: ACS 2018 Source: CHAS 2016
Owner Households
Cost Burdened
Y R 74% 16% 10%
4 enter
1 oO ao v
H 0 U se h 0 I d S Not Cost Burden 90% -49.9% / Severe Cost
Less than 30% : ,/ Burden: >50%
¢
MANY RENTER HOUSEHOLDS IN NASHUA ARE CONSIDERED COST BURDENED. are aa We
HUD considers a household to be cost burdened if they are spending
more than 30% of their monthly income on housing costs. In Nashua, Renter Households
about 41% of all renter households are cost burdened which is in line with
US averages.
The challenge for households spending more than 30% of their income on RENTERS IN NASHUA ARE MORE LIKELY T0 BE COST BURDENED COMPARED
housing costs is it leaves less money for spending on other necessities TO OWNERS
such as food, transportation, education, healthcare, and childcare. Finding .
ways to build more housing that is affordable to renters is one way of
helping to keep cost burdening down.
According to data from HUD, 41% of renters were spending more than
30% of their income on housing costs compared to only 26% of
homeowners. 18% of those renters were spending more than 50% of the
income compared to only 10% of homeowners.
Nashua Housing Study - 29
