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Cost Of Home_mother And Daughter

1 in 8 New Mexico households can’t afford a decent place to live

A safe home. Nutritious food. Health care. Access to good schools. Reliable transportation. Which would you choose?

Here in New Mexico, 1 in 8 households spend more than half of their income on housing. Throughout the United States, 1 in 6 families are paying half of their income on rent or a mortgage. These families are forced to make difficult decisions every day. Pay the rent or buy nutritious food? Pay the mortgage or purchase life-saving medicine?

We believe this is unacceptable.

Your home shouldn’t cost you anywhere near half your paycheck. Home shouldn’t cost you your health or your children’s education.

Cost of home

Nearly 39 million households can’t afford their housing, according to the annual State of the Nation’s Housing Report from Harvard’s Joint Center for Housing Studies. One-third of households in 2015 were cost-burdened, meaning they spend 30 percent or more of their incomes to cover housing costs. Of that group, nearly 19 million are paying more than 50 percent of their income to cover their housing needs.

  • Increases in the median sales price of existing homes have outstripped growth in median household income for six straight years. The price of a typical existing home sold in 2017 was more than four times the median income.
  • Cost-burdened households with children spend on average $190 less on food and 70 percent less on health care when compared with similar households living in affordable homes.
  • Living in unsafe or unsanitary homes is related to greater emotional and behavioral problems among children and adolescents, and poor housing quality is also related to poorer school performance for older children.

Affordable homeownership allows families to spend more on healthcare and nutritious food. Quality construction can reduce health problems associated with substandard housing. Stable, affordable homeownership positively impacts mental health and children’s educational outcomes by minimizing the disruptions associated with unwanted and frequent moves.

We all have a role to play.

Habitat for Humanity believes that affordable homeownership is an important opportunity that allows families to build strength, stability and self-reliance. Help make the #CostOfHome something we all can afford.

View the 2018 State of Affordable Housing in New Mexico Fact Sheet

More about housing affordability and why housing policies are so vital

Visit Habitat for Humanity’s #CostofHome website

 

*all the information on this page was provided by Habitat for Humanity for the #CostofHome advocacy campaign. 

 

 

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