23_10_31_Batch3_Testimony - Laserfiche WebLink

The River Road/Santa Clara area has a lower share of cost - burdened households than the city and the region. The prevalence of cost burden is lower among renters in the River Road/Santa Clara area than in the city and region overall, but still affects more than half of renter households in the area. Households that spend 30% or more of their income on housing are considered cost - burdened. Those that spend 50% or more of their income on housing are considered severely cost -burdened. Cost burden rates also vary by income. Rates of cost burden are highest among the lowest - income renters. Over two-thirds of renters earning less than $50,000 per year are cost -burdened. ECONorthwest PERCENT OF HOUSEHOLDS EXPERIENCING HOUSING COST BURDEN (30% OR MORE OF INCOME SPENT ON HOUSING) BY GEOGRAPHY 45 homeowners earn Source: Census Bureau, ACS 2013-2017 more than $50,f 000 ■■■■■■■■■■ All households 35% 42% 45% Homeowners 2$% 29% 28% Renters 52% 62% 59% River Road/Santa Eugene Eugene - Clara Area less than $50,000 Springfield O14of them are cost -burdened region COST BURDEN BY TENURE, RIVER ROAD/SANTA CLARA AREA Source: Census Bureau, ACS 2013-2017 Total Re nters Owners 65% 48% 72% Md 0% 20% 40% 60% 80% 100% ■ Severely Cost -Burdened ■ Cost Burdened Not Cost B urde ned ILLUSTRATION OF COST BURDEN: IF ALL OF RIVER ROAD'S HOUSEHOLDS WERE 100 RESIDENTS Source: U.S. Census Bureau, 2013-2017 ACS Table B25106. 11 renters earn more than $50,000 0 1 of them is cost -burdened 20 renters earn less than $50,000 0 14 of them are cost -burdened 19 192 69 Homeowners 31 Renters 45 homeowners earn u n n u u ■ ■ ■ ■ more than $50,f 000 ■■■■■■■■■■ them cost -burdened O 5od ■■■■■■■■■■ ENEEMENEEN MENEEMEN MENEENEENE ■ ■ ■ ■ ■ ■ ■ U M E 24 homeowners earn ■ ■ ■ ■ ■ ■ E E M E less than $50,000 UUMMUMMUME O14of them are cost -burdened nummunnumn 11 renters earn more than $50,000 0 1 of them is cost -burdened 20 renters earn less than $50,000 0 14 of them are cost -burdened 19 192