Posts Tagged ‘property tax’

What Does the Average American Spend on Housing?

Posted on February 24, 2017 by Laura Lam

While the cost of college has climbed at an alarming rate over the past 20 years, there remains no purchase more significant — financially or, perhaps, emotionally — than a house. While some have¬†rightly¬†questioned whether the American Dream is worth pursuing, the fact remains that we all need a place to rest our heads at night. According to the Bureau of Labor Statistics’ (BLS) 2014 Consumer Expenditure Survey (CES), the average American household spends about $1,030 per month on rent or mortgage, inclusive of property taxes, insurance, and utilities (not including telephone). That’s roughly 21% of the average household’s income…