56% of California renters slammed by housing costs vs. 35% of homeowners

In 2023, more than half of California tenants are burdened by housing costs, with 56% paying 30% or more of their income. This highlights the state's severe housing affordability crisis.

The Census Bureau's latest stats reveal stark contrasts between renters and homeowners in California. While 56% of renters face significant financial strain, only 35% of homeowners report similar burdens, indicating a deepening affordability issue.

Across the nation, 52% of renters experience housing-cost burdens, compared to only 25% of homeowners. These disparities highlight a broader issue of housing affordability that transcends state lines.

California leads the nation with 3.2 million renters and 2.4 million homeowners devoting 30% or more of their income to housing, underscoring the severity of the affordability crisis.

Read at www.ocregister.com