HOUSTON – According to the Dallas Business Journal, nearly half of renters in Houston are paying 30 percent or more of their income on rent — with almost one-fourth of renters paying 50 percent or more, making Houston one of the highest cost-burden cities for renters.
A household is considered moderately cost-burden if costs amount to more than 30 percent of the renter's income. Severely cost-burden households cost more than 50 percent of the renter's income.
In Houston, the percentage of moderately cost-burden households remained at 24.9 percent while severely cost-burden households increased by point-one percent from 2017 to 2018, according to data gathered by Apartment List.
Preceding Houston is Dallas at an overall cost-burden rate of 47.2 percent and 482,102 cost-burden households, nearly 50,000 more than Houston.
Topping the list are New York and Los Angeles. New York has an overall cost-burned rate of 52.2 percent and 1.7 million cost-burden households. Los Angeles cost-burden rate is 56.9 percent and has 1.2 million cost-burden households.
Houston is the sixth most cost-burden city for renters with an overall percentage of 49.3 — with 24.8 percent of households being moderately cost-burden and 24.5 percent severely cost-burden.