Apr 17, 2024 - News

Charted: What people sacrifice to afford housing

Data: Redfin; Note: 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.

State of play: Housing prices in Northwest Arkansas are more than 120% higher than a decade ago, according to the Arvest Skyline Report.

The big picture: Half of U.S. 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 tend to skip vacations, 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.

avatar

Subscribe for more Axios Northwest Arkansas in your inbox.

Read the full edition
🌱

Support local journalism by becoming a member.

Learn more

More NW Arkansas stories

No stories could be found

NW Arkansaspostcard

Get a free daily digest of the most important news in your backyard with Axios NW Arkansas.

🌱

Support local journalism by becoming a member.

Learn more