Subways with the most mortgage-burdened homeowners | Entertainment News

According to a 2021 Pew Research Center survey, about half of Americans agree that the lack of affordable housing in their city is a major problem. Pew also found that a proportion of Americans concerned about declining housing affordability has increased in recent years, and for good reason.

Knowing this, Stacker analyzed data from the US Census Bureau to determine where homeowners spend most of their income on mortgage payments. To be included, each metropolitan area had to have at least 100,000 mortgage holders in 2020, according to the latest available data.

Residents of some of the most populous metropolitan areas in the United States are feeling the pressure on their mortgage payments as home values ​​continue to rise nationwide. For decades, experts have used the same tried-and-true measure of housing affordability: when a person keeps their housing expenses below 30% of their annual income, it allows them to spend on the other necessities of life. , such as food, transport and health care.

Analyzing the number of homeowners who spend more than 30% of their income on mortgage payments in a given community can give an idea of ​​the financial situation of a population. Experts call these homeowners “mortgaged”. Nearly 49 million Americans have mortgages, and about 27% of those are considered mortgaged, according to the most recent census data available.

Stacker found that California metropolitan areas ultimately topped the list of where homeowners are most burdened with mortgages. The Golden State has become notorious for its shortage of affordable housing, although metros in several other states have also reached the top of the rankings. Keep reading to see if your Metro makes the list.

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