Indicator: 45 - Family Housing Costs   

Why This Is Important

Housing is a major expense for most families; however, spending more than 30% of income on
housing may compromise the budget for other essential goods and services. Nationally the share
of all households (containing children) spending at least 30% of their incomes on housing increased
from 15% in 1978 to 28% in 1995, while the share spending at least half their income on housing
doubled from 6% in 1978 to 12% in 1995. For renter households with children and very low
income the trend was similar, but housing expenses were a much higher share of income.

 

Where We Stand

According to the American Community Survey, the 2003 Data Profile of the U.S. Census, the
estimated median, monthly mortgage cost in Maine was $1,025. For Maine renters, the gross
rent monthly median estimate was $562. According to this same data profile, of those housing
units with a mortgage, approximately 27% of owners had housing costs 30 percent or more of
their household income. For renters, approximately 38% had housing (gross rent) costs 30% or
more of their household income. The trend on this estimated indicator has not changed.

 

Data Sources and Context

Data on this indicator comes from the American Community Survey:
http://www.census.gov/acs/www