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Basic Needs > Housing Costs

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Housing Costs

Nearly half of renting households in Lincoln spend a large portion of their income on housing

A standard measure of housing affordability is the percentage of household income devoted to housing costs. In general, many experts believe that housing costs should not exceed 30% of a household’s income, and that the percentage should decrease for lower income households.20

In 2023:

  • 45% of all renting households in Lincoln pay 30% or more of their income on housing.21
    • This increased right after the COVID-19 pandemic, during 2021 and 2022, but is now the same as it was in 2019.
  • 22% of Lincoln homeowners carrying a mortgage pay 30% or more of their income on housing.
    • This is an increase from 18% in 2019.
  • 13% of Lincoln homeowners with no mortgage pay 30% or more of their income on housing.22
    • This is an increase from 10% in 2019.
Notes

U.S. Census Bureau, American Community Survey, 1-year estimates, Table DP04.

Footnotes
  1. Schwartz, M., & Wilson, E., (n.d.) Who can afford to live in a home?: A look at data from the 2006 American Community Survey. Washington, DC: United States Census Bureau.
  2. Data are limited to the household population and exclude the population living in institutions, college dormitories, and other group quarters.
  3. Costs for households without a mortgage may include home equity loans, real estate taxes, homeowner’s insurance, association fees, and utilities.