Priced out of the market? Cities where the middle class can no longer afford a home
“According to the U.S. Department of Housing and Urban Development, families that pay more than 30 percent of their incomes on housing are considered cost burdened and may have difficulty affording rent as well as other necessities such as food, clothing, transportation, and medical care. While the poorest families are the most likely to be housing-cost burdened, skyrocketing home prices in U.S. metropolitan areas have caused the nation’s housing affordability crisis to spread to a large number of middle class Americans.”