It's no secret that many Americans are forgoing homeownership in favor of renting. In 2020, renters in the U.S. occupied 43 million housing units.
The Stacker team looked at data from a United States Census survey that revealed an estimated 43,378,800 renter-occupied homes in the United States as of 2017, which makes up 36.1% of all households in the country. In 2019, renting was more affordable than buying a median-priced home in 59% of the counties; in 2021, the opposite was true: Owning was more affordable than renting in 63% of U.S. counties.
Stacker compiled a list of counties in Hawaii where people spend the highest percent of income on rent using data from the U.S. Census Bureau. Of course, saving money by owning a home is unattainable for many Americans who don't have savings that could cover a down payment, those who are denied a mortgage, or both. Keep reading to see where in your home state most of people's take-home pay goes to their monthly rent.
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- Median percent of income spent on housing: 18.4%
--- Percent of households spending <20% of income on housing: 30.8%
--- Percent of households spending >30% of income on housing: 2.6%
- Total occupied households: 39
- Median household income: $69,375
- Median monthly housing cost: $1,063
- Median percent of income spent on housing: 19.8%
--- Percent of households spending <20% of income on housing: 41.8%
--- Percent of households spending >30% of income on housing: 34.0%
- Total occupied households: 22,658
- Median household income: $83,554
- Median monthly housing cost: $1,379
- Median percent of income spent on housing: 21.5%
--- Percent of households spending <20% of income on housing: 44.9%
--- Percent of households spending >30% of income on housing: 31.6%
- Total occupied households: 69,453
- Median household income: $62,409
- Median monthly housing cost: $1,116
- Median percent of income spent on housing: 24.4%
--- Percent of households spending <20% of income on housing: 38.8%
--- Percent of households spending >30% of income on housing: 37.1%
- Total occupied households: 54,479
- Median household income: $80,948
- Median monthly housing cost: $1,645
- Median percent of income spent on housing: 25.4%
--- Percent of households spending <20% of income on housing: 34.8%
--- Percent of households spending >30% of income on housing: 39.9%
- Total occupied households: 312,795
- Median household income: $85,857
- Median monthly housing cost: $1,820
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