CNCounty News

County News Hot Topics: Housing Affordability

Image of istock_ladderart_a1226ir1590-2.jpg

Key Takeaways

For a growing number of Americans, the cost of housing is crowding out the rest of their household budget. That’s forcing
many families into precarious living situations that affect their safety, their health, the length of their commutes and their chance to build generational wealth or to contribute to a vibrant community where they feel like they have a stake.

In 18% of counties, households must spend more than 3.5 times their annual income to afford a typical home. Nearly a quarter (24%) of households that occupy rental units are severely cost-burdened, spending more than half of their annual income on rent. According to Freddie Mac, there is a shortage of more than 3.8 million homes — both rental and owner-occupied — across the country, and it will take more than 20 years to close the housing unit gap despite the recent acceleration in development, according to the National Association of Realtors. These statistics lend context to a problem that counties know all too well: Housing affordability is increasingly out of reach for residents. 

Articles from this Hot Topic

Related News


House Passes Historic Outdoor Recreation Legislation

The U.S. House passed the bipartisan EXPLORE Act (H.R.6492) on April 9 to boost outdoor recreation opportunities on public lands and aid local economies

Big Elk Lake Regional Park in Sherburne County, Minn., which is in the early stages of natural resource restoration work. Photo courtesy of Gina Hugo, county parks coordinator
County News

Sherburne County and tribal nations collaborate on county park 

Sherburne County, Minn. engaged tribal nations to revise its plans for a park that included a Native American burial ground.