Description of Indicator
These data detail the housing cost burden among renter-occupied and owner-occupied housing units, categorized by race and ethnicity.
Why is it Important?
Historically, members of some racial and ethnic groups have suffered discrimination when buying homes and accessing home mortgages. A home is a vital financial asset for a family and an investment in the community. Attainable housing has far-reaching social and economic implications; housing security is associated with strong academic and work performance. It is also a social determinant of health.
How is the Region Performing?
Housing is the single largest household expense and can leave too few resources to pay for other expenses. Renters are more likely than homeowners to struggle with housing insecurity (meaning that 30.0 percent or more of household income must be allocated for living expenses). The majority of the region’s homeowners are White. These disparities are greater regionally compared to the Commonwealth.