Rent and Utility Costs Burden Many Iowa Families

house

CHARLES CITY- Affordable housing can be key to helping working families gain and keep financial stability, but for many across Iowa, the costs of rent and utilities are taking more than their share of the monthly budget. The Center for Enterprise Development analyzed the latest data. Senior Research Manager Kasey Wiedrich says they found that nearly half of renters in the state are what’s called “housing cost-burdened.”

For homeowners in the state, the rate is significantly lower, with about 22-percent considered housing cost-burdened.

Wiedrich says the high cost of housing doesn’t allow for families on the edge to save for emergencies, a factor that is a major contributor to the liquid-asset poverty rate. In Iowa, that rate is 26-percent.

The group’s latest “Assets and Opportunities Scorecard” also shows how Iowa is faring in areas such as jobs, health care and education.

 

Contributer: Iowa News Service

 

Authors
Top