Housing GSO: HRA Greensboro Affordable Housing Plan

MARKET CONTEXT

HOUSING NEED | Renter Cost Burden

Renter cost burden, the percentage of households at each income level that pay more than 30% of their income towards housing costs, indicates the significant affordability need for Greensboro’s residents.

Renter Housing Cost Burden, 2017

Renter Housing Cost Burden, 2010-2017

30-49% of Income

50%+ of Income

2010

2017

16,000

16,000

14,000

14,000

12,000

12,000

10,000

10,000

8,000

8,000

6,000

6,000

4,000

4,000

2,000

2,000

0

0

Less than $20,000

$20,000 to $34,999

$35,000 to $49,999

$50,000 to $74,999

$75,000 or more

Less than $20,000

$20,000 to $34,999

$35,000 to $49,999

$50,000 to $74,999

$75,000 or more

Renters earning less than $20,000 are the most severely impacted by housing cost burden. 82% of renters in this income category are cost- burdened, and 76% of them are extremely cost-burdened.

From 2010 to 2017, cost burden increased for many renters in Greensboro. Middle-income households suffered the most drastic increases.

Cost-burdened renters earning $20K to $35K increased by 2,000 households, and cost-burdened renters at $35K to $50K increased by 1,200 households.

Renters earning under $35,000 are also heavily cost-burdened. 71% of all renters in this income category pay at least 30% of their income.

Source: 2010, 2017 ACS Estimates

HR&A Advisors, Inc.

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