Updated Apr 6, 2024 - Business

Charted: What people are sacrificing to afford housing

Data: Redfin; Note: This chart has been updated to clarify that it focuses on survey respondents who said they made sacrifices to afford housing. Responses with less than 14% were excluded from the chart; respondents could choose multiple responses; Chart: Axios Visuals

A striking share of renters and homeowners across the U.S. are skipping essentials like meals and medical care to keep a roof over their heads, per a new Redfin report.

The big picture: Half of renters and homeowners struggle to afford monthly housing payments, Redfin found.

Yes, but: Demographics play into the types of sacrifices people make.

  • For instance, white and Asian survey respondents are most likely to skip a vacation, while Black and Hispanic respondents are most likely to work more hours, per the report.

The intrigue: Millennials are the generation most likely to borrow money from friends and family to cover housing costs, per the report.

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