Goal: Ensure that residents have the resources to meet their daily needs.
Fewer than 10% of households will be cost burdened
Fewer than 5% of households will be severely cost burdened
Stormy, concerns for the future. The percent of households that are cost burdened or severely cost burdened is more than double the targets set for 2035. Since 2000, the percent of total households that are cost burdened has increased 3% while the percent of total households that are severely cost burdened has increased 2%.
A cost-burdened household spends more than 30% of their income on housing costs; for severely cost-burdened households the share is 50%. When households are spending too much of their income on housing, they have less money available to spend on other basic needs, such as food, utilities, health care, and transportation. They also have less money available to spend at local businesses, which would support the region's economy.