25 Cities Where Homeowners Are Considered ‘House Poor’

With monthly mortgage payments continuing to rise, homeowners across the U.S. are finding themselves “house poor,” meaning 30% or more of their monthly income is being spent on monhtly housing costs. To determine which cities buyers are the most house poor, GOBankingRates analyzed U.S. Census Bureau median incomes and housing costs from major cities across the U.S.

The study found that Newark, N.J., is the most house-poor city. There, homeowners spend 36% of their income on housing costs. Additionally, in Hialeah, Fla., Miami Gardens, Fla., and El Monte, Calif., homeowners spend 34% of their income on their monthly housing payment; and in Miami, they spend 33% of their income on their monthly housing payment.

Six Florida cities ranked as the nation’s most house poor. Homeowners in Hialeah (#2), Miami Gardens (#3), Miami (#5), Hollywood (#10), Pompano Beach (#12), Pembroke Pines (#19) and Fort Lauderdale (#20) spend 29% or more of their salary on home costs.