71°
Baton Rouge, Louisiana
3 Day Outlook
Sun
94°
68°
20%
Mon
80°
66°
50%
Tue
70°
56°
80%

Latest Weather Blog

Follow our weather team on social media

Study: 45 percent of Louisiana renters 'stressed'

8 months ago Thursday, August 14, 2014 1:12:37 AM CDT August 14, 2014 Thursday, August 14 2014 Aug 14, 2014 in News
Source: Associated Press

BATON ROUGE - A new assessment of the Louisiana housing market has found that nearly 45 percent of renters are considered "rent stressed" because they're paying more than 35 percent of their monthly income in rent.

The national average is at close to 43 percent.

The study by LSU professors Jim Richardson and Roy Heidelberg notes the percentage of Louisiana residents in that category has gone up by almost 15 percentage points since 2000.

Richardson and Heidelberg cautioned the Louisiana Housing Corp. report doesn't look at household income, so affluent people could fall in the category too.

Meanwhile, Louisiana homeowners are less cost-stressed than the rest of the country. Twenty-two percent are spending more than 35 percent of their monthly income on a mortgage, compared to 26 percent nationwide.

More News

comments powered by Disqus

Desktop News

Click to open Continuous News in a sidebar that updates in real-time.
5 Days
Radar
Today
Heavy T-Storms
84°
69°
Sun
Partly Cloudy
94°
68°
Mon
Scattered T-Storms
80°
66°
Tue
T-Storms
70°
56°
Wed
Partly Cloudy
74°
53°