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Tags: usa | rent | mortgage | rent | survey

Survey: Over 60 Percent of US Adults Concerned About Housing Costs in 2023

Survey: Over 60 Percent of US Adults Concerned About Housing Costs in 2023

(Alex Hinds/Dreamstime)

By    |   Monday, 15 August 2022 09:02 PM EDT

A new survey from Freddie Mac, a nationally renowned, government-controlled loan mortgage company, reveals that more than 6 in 10 Americans are concerned about making their housing payments in full over the next 12 months.

Of the 2,000 adults participating in the Freddie Mac poll, a whopping 62% of respondents reported they're either "somewhat concerned" or "very concerned" about covering their housing expenses heading into 2023.

Also, 69% of survey-takers were "somewhat worried" or "very worried" about home prices rising over the next year.

Here are other notable results from the Freddie Mac home survey:

  • 84% of respondents list the current economic downturn — consecutive quarters of negative growth — as their greatest financial worry.
  • 77% of participants are concerned about losing their jobs over the next 12 months.
  • 61% report they don't always have enough money to cover the "basics," such as food and housing.
  • 58% of respondents report their rent has gone up over the last 12 months.
  • 6% say their rent has increased by at least 30% since the summer of 2021.
  • And nearly 20% of respondents say it's "extremely likely" they'll miss a rent or mortgage payment over the next 12 months, whereas 38% characterize that same hypothetical as "somewhat likely."

For 2021 in the United States, the median monthly mortgage payment was $1,100, based on American Housing Survey data provided by the U.S. Census Bureau.

Also, the national median home price was $272,500; and the median down payment accounted for 12% of the purchase price. 

Citing the same AHS numbers, via Rocket Mortgage, this would bring the total loan size — minus the down payment, closing costs, HOA fees, homeowners insurance, etc. — to $245,250.

The Freddie Mac poll was conducted online June 6-10 and represented a national audience.

© 2022 Newsmax. All rights reserved.


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A new survey from Freddie Mac, a nationally renowned, government-controlled loan mortgage company, reveals that more than 6 in 10 Americans are concerned about making their housing payments in full over the next 12 months.
usa, rent, mortgage, rent, survey
293
2022-02-15
Monday, 15 August 2022 09:02 PM
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