Welcome to the City of Albuquerque

7.1 Home Owners Paying More Than 30% of Income for Housing Costs

This indicator notes the rate at which Albuquerque homeowners pay 30% or more of their household income towards their homeowner costs (sum of payments for mortgages, real estate taxes, various insurances, utilities, fuels, and condominium fees).

This indicator is part of Safe, affordable housing.

Indicator description:

This indicator notes the rate at which Albuquerque homeowners pay 30% or more of their household income towards their homeowner costs, which are the sum of payments for mortgages, real estate taxes, various insurances, utilities, fuels, and condominium fees. Residents paying more than 30% of their household income for housing are considered housing burdened, and may be more likely to lose their homes or have to choose between making their housing payments and other necessities of life.

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Why is this indicator relevant?

This indicator speaks to the amount of affordable housing available in each community, but also reflects choices made by consumers to purchase homes within their means. This indictor may also reflect life changes, such as job loss, or death of a wage-earner, which may have left some homeowners burdened. Rising housing prices, and other costs such as taxes, fuel prices and insurance, all add to the housing burden for families.


Data Source:
American Community Survey, US Census Bureau.

What can we tell from the data?

  • Albuquerque's housing burden for homeowners has remained fairly slight since 2006.
  • Albuquerque's homeowner housing burden ranked 5th among peer communities in 2011, but was lower than the national average.

 

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