Rising Housing Costs Push More High-Income Americans to Live Paycheck to Paycheck

Despite cooling inflation, a significant number of Americans, including those with high incomes, are struggling to cover basic expenses.

Recent Bank of America data shows that 20% of households earning over $150,000 are living paycheck to paycheck, spending nearly all their income on necessities.
High housing costs, including increased mortgage rates, insurance, and property taxes, are major contributors to financial strain across income levels.
Middle-income households are also feeling the squeeze, with a growing percentage spending most of their paychecks on essentials such as housing and utilities.
Inflation has raised consumer prices by nearly 20% since early 2021, with groceries and housing costs seeing significant increases.
While wage growth has outpaced inflation for some, many Americans, especially those in higher-paid sectors facing layoffs, continue to struggle financially.