Home ownership is no guarantee of housing affordability.
Households that pay a high percentage of their income for housing have little left for other necessities. The quest for affordable housing (costing less than 30% of income) can mean moving far from family, friends, work, school, and childcare arrangements. People who live in unaffordable housing may scrimp on food and forego necessary healthcare and medications.
In 2014, King County housing was unaffordable for...
... more than half of renters earning less than $50,000 a year (52% of renters earn less than $50,000 a year)
... the vast majority of owners with mortgages earning less than $75,000 a year (only 29% of owners with mortgages earn less than $75,000 a year).