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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.12 In 2019:

  • 45% of all renting households in Lincoln pay 30% or more of their income on housing.13
  • 18% of Lincoln homeowners carrying a mortgage pay 30% or more of their income on housing.
  • 10% of Lincoln homeowners with no mortgage pay 30% or more of their income on housing.14

12. 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.

13. Data are limited to the household population and exclude the population living in institutions, college dormitories, and other group quarters.

14. Costs for households without a mortgage may include home equity loans, real estate taxes, homeowner’s insurance, association fees, and utilities.