As rent has increased exponentially over the past eight years, income has plateaued, leaving low-income households to pay a larger share of their income on housing.
A new Puget Sound Trend reveals that one in two households with less than $50,000 in income are severely cost-burdened, spending most of their income on housing costs, neglecting or leaving little to food, transportation and medical care.
Black, Indigenous, and people of color (BIPOC) renters, specifically Black renters, are more likely to be cost-burdened as they spend more than 30% of their income on housing. Fifty-nine percent of Black renters are cost-burdened, with 28% severely impacted.
To understand the rent burden Black Americans experience, we have to look at the disparities in income across racial groups in Washington.
On average, Black renters earn $43,000, $20,000 less than the state's average income. On average, white and Asian households have median incomes 58% to 79% higher than Black households. Black households earn one-third less than the median income of all renters.
To understand more about income disparities and their effects on housing, check out this Puget Sound trend.