What are we measuring?
Housing affordability burden as measured here represents the percentage of households in Fulton County with annual income less than $20,000 that spend over 30% of their income on the home they own. 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.
How are we doing?
Fulton ranked in the middle in 2017 among its benchmark counties, with five counties (Milwaukee County, Wisconsin; Travis County, Texas; Hennepin County, Minnesota; Wake County, North Carolina; Franklin County, Ohio) having a higher percentage of cost burdened home-owners.