25% of Denver-area renters spend half their paycheck on housing
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About a quarter (24.7%) of Denver metro renters are spending more than half their income on housing, according to new data from the Census Bureau.
Why it matters: An excessive rent burden can make it harder to afford other basic needs like groceries and transportation — or to save for a down payment.
Driving the news: This November, Denver voters will weigh a ballot measure proposed by Mayor Mike Johnston that would raise the city's sales tax by 0.5% to generate roughly $100 million annually for the construction, maintenance and acquisition of "affordable" rental and for-sale homes.
The big picture: Denver renters are faring slightly better than the average renter nationwide, with 25.6% of renters in the U.S. now spending more than 50% of their income on housing.
By the numbers: Florida is home to several especially rent-burdened metros, including Port St. Lucie (36.6%), Cape Coral (35.1%) and Palm Bay (34.3%).
- On the other side are Ogden, Utah (17.9%), Fayetteville, Arkansas (18%) and Wichita, Kansas (18.7%).
- That's according to the 2023 Census' 1-year American Community Survey, and among metros with at least 200,000 households.
Between the lines: Geography is only part of the equation — race plays a role, too.
- Nationwide, 30.6% of Black renters are spending more than half their income on rent, compared to 23.4% of white renters.