Report: More than one-third of all Seattle households are cost-burdened
More than one-third of all households in Seattle are considered cost-burdened, according to a new study.
The study, from Construction Coverage, found 34.7% of all households in Seattle are cost-burdened, meaning they spend 30% or more of their income on housing costs. The percentage of renter households that are cost-burdened in Seattle was even higher, at 42.6%, while the share of owner households that are cost burdened was 24.9%.
The median monthly housing cost in Seattle is $1,814, according to the study, with the median income for Seattle residents coming in at $93,481. Among large cities, Seattle took the 32nd spot out of 55 cities analyzed based on the share of households that are considered cost-burdened.
Across all of Washington, 31.9% of all households are cost-burdened and 45.3% of renter households spend on average more than 30% of their income on housing, the study found.
https://www.msn.com/en-us/news/us/report-more-than-one-third-of-all-seattle-households-are-cost-burdened/ar-BB12p2zP
