Rent affordability: 11 million Americans spend half their income on rent – Jun. 22, 2016 » Mortgage Masters Group

However, 11 million households still pay more than half of their income towards rent, and the average minimum wage worker has to work 90 hours per week in order to afford a modest one-bedroom apartment, underscoring the need to expand the Housing Credit and invest in communities across the country.

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Generationally, Millennials are the most likely to rent out their primary home for income (6 percent) or have plans to do so (11 percent), while older owners have less interest in using their primary home for rental income. Owning additional homes. Nearly one in five homeowners (18 percent) own an additional property beyond their primary residence.

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Living in Ocala, FL. Ocala is a moderately-sized city located in the state of Florida.The city has a population of 57,873 residents. If we take a look at the last Census, the vast majority of the population falls within one racial group (71% White).

Rent affordability: 11 million Americans spend half their income on rent – Jun. 22, 2016 mortgage masters group generationally, Millennials are the most likely to rent out their primary home for income (6 percent) or have plans to do so (11 percent), while older owners have less interest in using their primary home for rental income.

More working-class families spend half of income on rent. The study defines working-class households as those in which someone works at least 20 hours a week and earns no more than 120 percent of the median income for their area. working-class renters account for nearly 60 percent of all renter-occupied homes.