What percentage of income is being spent on housing in Whatcom? It’s worse for renters
Whatcom County renters are spending a larger percentage of their income on housing than renters in most other counties in the state.
About 33% of renters’ income in Whatcom is spent on housing, according to the U.S. Census Bureau’s American Community Survey 5-year estimates released Thursday, Dec. 8.
Whatcom comes in just below Wahkiakum County and Whitman County, where renters spend about 35% and 41% of their income on housing, respectively.
Renters in surrounding counties pay slightly smaller percentages of their income on housing — about 30% in Skagit County and about 25% in Okanogan County.
Why does this matter? Households are considered cost-burdened when they spend more than 30% of their income on rent, mortgage and other housing needs, according to the Census Bureau.
More than 19 million U.S. renter households spent more than 30% of their income on housing costs in 2021, the data shows. That’s about 43% of the 44 million renter households in the country.
Though, the data looks much different for Whatcom County homeowners with a mortgage, who pay just about 23% of their income on housing.
That difference is seen nationwide, according to the Census Bureau, as homeowners in most of the country had a lower median cost burden than renters.
The median gross rent in Bellingham is $1,324 and the median household income is $58,597, according to the Census Bureau.
The median gross rent in Whatcom County is $1,347 and the median household income is $72,055, according to the Census Bureau.
