Homeowners in Hawaii, California, and Oregon Bear the Heaviest Housing Cost Burden
In the three U.S. states with some of the finest environmental attributes — Hawaii, California, and Oregon — homeowners bear the heaviest load when it comes to housing costs nationwide.
A report published Wednesday by the financial advice site WalletHub ranked the housing burden according to mortgage payments along with energy expenses.
The percentage of median monthly household income spent on housing costs was 53.5% in Hawaii, 46.0% in California, and 36.3% in Oregon.
In most states, the portion ranged from 20% to 30% of income, with Iowa having the lowest burden at 18.9%.
"Hawaii boasts the highest mortgage payments (including principal and interest) along with the greatest home energy expenses nationwide, cementing its position as the priciest state in our analysis," according to WalletHub.
Homeowners in California face the nation's second-highest mortgage payments and rank ninth for home energy expenses.
In Oregon, energy and mortgage costs are reduced; however, the state notably has a significantly lower median household income as well.
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