What are we measuring?
Housing affordability burden for renters represents the percentage of households in Fulton County with annual income less than $20,000 that spend over 30% of their income on rents. Paying over 30% of household income on housing presents a significant burden for low income homeowners and leave them with limited income for other essential spending.
Why are we measuring it?
According to U.S. Department of Housing and Urban Development, families who pay more than 30 percent of their income for housing are considered cost burdened and may have difficulty affording necessities such as food, clothing, transportation and medical care. Families burdened by housing costs are also at greater risk for homelessness.
How are we doing?
The percent of low-income households that spend more than 30% of income on rent has remained fairly steady over the past five years. Though the percentage dropped in 2017, over 805 of low-income households continued to spend over 30% of their income on housing. However, housing affordability is truly a national issue and when compared to its national benchmark counties, Fulton County ranks the 2nd lowest in housing cost burden for renters.