Most King County renters earn less than $50,000.
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.
Renter households were more likely than owner households to have low incomes. In 2014 …
- More than half (59%) of owners with mortgages earned over $100,000, compared to 20% of renters.
- 52% of renters and 36% of free-and-clear owners earned less than $50,000, compared to 15% of owners with mortgages.