American households are spending more of their income on housing than at any other point in recorded history.
According to an article in The Real Deal, housing in the United States is less affordable than ever. “In September 2022, a median-income household would have had to spend a little over 46 percent of its income to afford a median-priced home. That’s a 14-point spike from September 2021, when a household had to spend about a third of its income to afford a home in its community.” This remains the case in all but one U.S. metro areas with a population of more than 500,000.
California takes the top five spots on the list of most unaffordable metro areas, with the New York-Newark-Jersey City metro area, where it would cost a median-income household 66 percent of their income to buy a home, coming in sixth.
The cities with the steepest declines in affordability, the article notes, are in the Southeast, where housing prices were historically low.
FULL STORY: Housing affordability is worst on record, data shows
Low-Income Columbus Households Struggle to Find Housing
The Ohio city has a more severe affordable housing crisis than more traditionally expensive cities like New York and San Francisco.
Louisville Launches ‘Anti-Displacement Tool’
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Study: Maui’s Plan to Convert Vacation Rentals to Long-Term Housing Could Cause Nearly $1 Billion Economic Loss
The plan would reduce visitor accommodation by 25,% resulting in 1,900 jobs lost.
North Texas Transit Leaders Tout Benefits of TOD for Growing Region
At a summit focused on transit-oriented development, policymakers discussed how North Texas’ expanded light rail system can serve as a tool for economic growth.
Using Old Oil and Gas Wells for Green Energy Storage
Penn State researchers have found that repurposing abandoned oil and gas wells for geothermal-assisted compressed-air energy storage can boost efficiency, reduce environmental risks, and support clean energy and job transitions.
A Bronx Community Fights to Have its Voice Heard
After organizing and giving input for decades, the community around the Kingsbridge Armory might actually see it redeveloped — and they want to continue to have a say in how it goes.
Houston Mayor Promises Dedicated Austin Street Bike Lane After Public Backlash
Although the one-way bike lane won’t be protected by physical barriers, the proposal is an improvement over the mayor’s initial plan to only include sharrows on the Austin Street project.
How Atlanta Built 7,000 Housing Units in 3 Years
The city’s comprehensive, neighborhood-focused housing strategy focuses on identifying properties and land that can be repurposed for housing and encouraging development in underserved neighborhoods.
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