In the St. Cloud area, one in ten area households paid more than half of their income for housing. At this level of housing cost burden, families often must make difficult choices between paying for housing and other necessities such as transportation, food, and prescription medicines. Note that there is some fluctuation in annual American Community Survey data due to relatively high margins of error for metro areas the size of St. Cloud.
In 2013, more renters than owners experienced this extreme cost burden. The burden falls especially heavily on lower-income area residents. Over half (54%) of households earning less than $50,000 per year paid more than they could comfortably afford for housing, according to HUD guidelines, compared to about 8% of households with incomes above $50,000.
Median Household Income (all), 2013: $55,513
Median Renter Household Income, 2013: $32,324
Technical information on these charts can be found here.