Data Table
Why is this important?
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.
Key Observations
Despite increasing average wages and decreasing unemployment, the number of cost burdened households exceeds the region's targets. There are two ways to make progress on this benchmark:
- Further increase wages and decrease unemployment, especially for low-income residents in Thurston County. This can be accomplished by promoting a vibrant economy and job training.
- Ensure an adequate supply of affordable housing for low-income residents: This will require cooperation and partnerships between jurisdictions, social service agencies, developers, and residents.
Definitions
- Cost burdened households spend more than 30% of their income on housing-related expenses, including rent, mortgage payments, utilities, and maintenance.
- Severely cost burdened households spend more than 50% of their income on housing-related expenses. The count of cost burdened households include severely cost burdened households.