Counties in Rhode Island where people spend most of their paycheck on housing
Counties in Rhode Island where people spend most of their paycheck on housing
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 Rhode Island 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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#5. Washington County
- Median percent of income spent on housing: 20.0%
--- Percent of households spending <20% of income on housing: 44.6%
--- Percent of households spending >30% of income on housing: 28.5%
- Total occupied households: 49,102
- Median household income: $85,531
- Median monthly housing cost: $1,423
#4. Bristol County
- Median percent of income spent on housing: 20.9%
--- Percent of households spending <20% of income on housing: 41.4%
--- Percent of households spending >30% of income on housing: 31.5%
- Total occupied households: 19,217
- Median household income: $83,092
- Median monthly housing cost: $1,450
#3. Kent County
- Median percent of income spent on housing: 21.8%
--- Percent of households spending <20% of income on housing: 40.0%
--- Percent of households spending >30% of income on housing: 31.6%
- Total occupied households: 69,422
- Median household income: $73,521
- Median monthly housing cost: $1,338
#2. Newport County
- Median percent of income spent on housing: 22.4%
--- Percent of households spending <20% of income on housing: 39.9%
--- Percent of households spending >30% of income on housing: 33.2%
- Total occupied households: 34,777
- Median household income: $79,454
- Median monthly housing cost: $1,481
#1. Providence County
- Median percent of income spent on housing: 23.4%
--- Percent of households spending <20% of income on housing: 36.9%
--- Percent of households spending >30% of income on housing: 36.0%
- Total occupied households: 237,971
- Median household income: $58,974
- Median monthly housing cost: $1,148
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