Missouri Households Cost Burdened

Missouri Households Cost Burdened

Millions of Americans have experienced loss of work or other financial hardships due to the ongoing economic shutdown. Those households who already spend more than 30 percent of their income on housing are especially vulnerable.

Researchers at Construction Coverage, a review site for construction software and insurance, analyzed the latest data from the U.S. Census Bureau and found that 25.7% of Missouri households are cost-burdened, compared to the national rate of 31%. 

Many mortgage lenders are offering options to defer mortgage payments, and the federal government is pausing foreclosures and evictions on mortgages backed by Fannie Mae and Freddie Mac or the Federal Housing Administration. Renters face a more uncertain situation—in most cities it will be up to individual landlords to work out payment options for renters unable to pay rent. 

For information on housing assistance in our area, contact the East Missouri Action Agency  (573) 431-5191.