Charted: How rent-burdened we are
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Nearly a quarter of Seattle-area residents spend more than half their income on rent, according to Census data released last week.
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 that can turn rent checks to a landlord into mortgage payments towards home equity.
The big picture: The share of Seattle-area renters spending most of their income on housing last year was slightly lower than the percentage nationwide, which was 25.6%.
- That reflects how many residents of the Seattle metro area are making high salaries to go along with our above-average rents.
Yes, but: That's little comfort to a growing percentage of area residents who are living in poverty, who still must contend with the region's high cost of living.