"Last year, California had 2.8 million households in all kinds of living arrangements where housing expenses exceeded 50% of their income. That's the largest burdened flock among the states and 14% of the 19.4 million nationwide. California's economic rivals ranked next: Texas and Florida, at 1.7 million. Such cash-strapped households equal 20% of all Californians, the biggest share nationally and well above the 15% U.S. share. Texas was No. 12 at 15% and Florida was No. 3 at 18%."
"We don't spend enough time discussing the financial burden of renters, who make up 56% of California's home-cost-burdened population. Remember, California is the nation's largest rental market with 6.1 million tenant households. Sadly, California is also tops for suffocating rental costs, with 1.6 million extremely burdened households in 2024. No. 2 for 50%-plus-burdens was Texas at 998,000. Florida was No. 4 at 856,200."
California had 2.8 million households with housing expenses exceeding 50% of income in 2024. Those households represent 20% of California households, the largest share nationally and above the 15% U.S. rate. Texas and Florida followed among states for numbers of burdened households. Renters comprise 56% of California's home-cost-burdened population. California contains 6.1 million renter households and 1.6 million extremely burdened renter households. Twenty-seven percent of California renters face housing costs over 50% of income, compared with 24% nationwide; Florida's renter share is 29% and Nevada equals 27%. Californians account for 13% of the nation's 46.1 million rentals but 15% of the 10.9 million most rent-stressed households.
Read at The Mercury News
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