The ability of Rochester area residents to afford housing has changed dramatically in recent years for both owners and renters. The number of renter households paying more than half of their income for housing is the lowest it has been since 2007. At the same time, the number of homeowners paying more than half their income on housing rapidly increased back to numbers seen during the height of the recession. 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.
About 4,300 owner households and 2,700 renter households now pay more than half of their income for housing. The burden falls especially heavily on lower-income Rochester area residents. Half of all households earning less than $50,000 per year pay more than they can comfortably afford for housing, according to HUD guidelines, compared to 1 in 13 households with incomes above $50,000.
Median Household Income (all), 2013: $62,645
Median Renter Household Income, 2013: $32,588
Technical information on these charts can be found here.