This report focuses on housing afford-ability for working households. For the purposes of this report, working households are those that worked at least 20 hours per week, on average, and had a household income of no more than 120 percent of the median income in their area.
Nearly one in four working households spends more than half of its income
on housing costs. Moreover, despite falling home values, housing affordability worsened significantly for working owners and renters between 2008 and 2010…. [I]ncomes declined even as rents increased over the two-year period, making housing substantially less affordable for working renters. For working owners, a modest decline in housing prices was outpaced by a larger decline in incomes, leading to higher cost burdens in
National Index Reveals Combined Housing and Transportation Affordability Has Declined Since 2000
Source: Center for Neighborhood Technology (CNT), February 2012