Nearly half of Americans are spending more than recommended amount on rent [Video]

TAMPA, Fla. (WFTS) — According to an analysis by the U.S. Census Bureau, more than 21 million renter households spent more than 30% of their income on housing costs in 2023.

Data from the 2023 American Community Survey (ACS) 1-year estimates found that nearly half (49.7%) of the 42.5 million renter households in the United States spend more than 30$ of their income on rent.

The U.S. Department of Housing and Urban Development (HUD) defines cost-burdened households as spending more than 30% of their income on rent, mortgage payments, and other housing costs. Households spending more than 50% of their income on housing costs are considered severely cost-burdened.

Within Black or African American alone renter households, or households where the householder identified as being only Black or African American, 4.6 million (56.2%) paid more than 30% of their income on housing costs in 2023. Another 2.0 million (54.7%) Some Other Race alone renter households were cost-burdened, according to …