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Industry News

The housing gap

July 1, 2004

Residents in San Francisco pay $21K per year on housing; Cleveland pays $13K


Inman News

The average American household spent $13,148, or nearly 33 percent of its total expenditures on housing in 2001-2002, according to statistics released by the U.S. Census Bureau.

By comparison, residents in the West spent an average $15,150, or 34 percent of total expenditures on housing. Households in San Diego spent $17,050, or 40 percent of total expenditures on housing, and residents in San Francisco spent more than $21,000, or 38 percent during the same time period. Los Angeles households spent $17,602, or 37 percent of total expenses.

Percentage of housing expenses compared with total expenses was lower in the Midwest, with the average amount spent each year at $12,549, or 31 percent. In St. Louis, residents spent $13,220, or 31 percent of total expenses on housing, and residents of Cincinnati spent $12,912, or 32 percent. Chicago households spent $17,239, or 36 percent of total expenses.

In the South, households spent an average $11,573, or 32 percent of total expenses on housing. Residents of Houston spent $15,049, or 32 percent of total expenses on housing, and households in Atlanta spent $14,965, or 37 percent. Residents in Dallas-Fort Worth spent $15,754, or 32 percent of total expenditures on housing during the same period.

In the Northeast, residents spent an average $14,499, or 35 percent of total annual expenses on housing. New York City households spent $18,668, or 37 percent on housing, and Boston residents spent $14,693, or 37 percent. Pittsburgh, Pa., residents spent $12,018, or 29 percent of total expenditures on housing.

The data comes from the Census Bureau's Consumer Expenditure Survey, which also tracks how much Americans spend on groceries, clothing, health care and transportation. The Census Bureau said it will collect new information from 7,500 households once every three months over a one-year period.

Copyright: Inman News Features



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