06/18/2026
People ask me all the time
"HOW's THE MARKET"
•Similarly, only 11.2% of Americans relocated in 2024, an all-time low.
•As of 2024, 20.7 million homeowner households (24% of the total) spent more than 30% of their income on housing expenses; 9.6 million spent more than half their income.
•Renters may have it worse: roughly half of all households that rent, or 22.7 million, were cost burdened as of 2024, including 12.1 million that were severely burdened.
In 2024, 11 million American households had 'extremely low incomes,' which means they earned up to 30% of the area median.
But there were only 3.8 million rental units that were both affordable and available, meeting the needs of only 35% of those households.Among American renters of all income levels, 49% are moderately cost-burdened, which means they spent 30% or more of their income on housing, while a whopping 26% spend at least half their income on housing costs. Both measures are up sharply since 2019