Overview

• Nearly one in five homeowners and renters are skipping meals to afford housing in the current economy, highlighting the sacrifices many Americans are making to stay in their homes.
• Half of U.S. homeowners and renters report struggling to pay housing costs, with significant numbers cutting back on vacations, working extra hours, or selling belongings to manage expenses.
• Mortgage payments are near an all-time high, and the typical household earns about $30,000 less than what is needed to afford a median-priced home.
• Millennials, baby boomers, and Gen Xers are dipping into retirement savings for housing costs, while Gen Zers are working extra hours, selling belongings, and skipping meals.
• Housing affordability is influencing Americans' plans for the upcoming presidential election, with many considering multigenerational living arrangements to cope with high costs.