Key Market Indicators
The average amount of money spent on housing in 2020 was $21,945. In 2020, the average U.S. household spent $22,000 on housing. This included rent, mortgage payments and other housing costs such as repairs and maintenance. The figure, released by the U.S. Bureau of Labor Statistics, marks a 3.2% increase from 2019. It's the largest annual rise since 2008, when the housing market was hit hard by the financial crisis. The data shows that the average amount spent on housing has risen steadily since 2015. The figures highlight the impact of rising housing costs on the average American household. They suggest that more and more people are being pushed out of the market due to prohibitive costs.
