Intersecting Costs: Housing and Transportation in the Rural Fifth District
Abstract: Our recent issue of Econ Focus covered a number of challenges facing small towns and rural areas, including the need for affordable, quality housing for low- and middle-income households. Despite typically lower housing costs in rural areas compared to urban areas, nearly four out of 10 low- and middle-income households in the rural Fifth District are housing cost burdened, meaning they spend more than 30 percent of their income on housing. Yet, access to housing is only part of the bigger story of households’ access to jobs, services, and amenities. Transportation also looms large. Housing and transportation represent the two biggest expenses for households on average, and transportation costs tend to increase with rurality. This article builds on previous analysis by exploring combined housing and transportation expenses across rural areas in the Fifth District.
File(s): File format is text/html https://www.richmondfed.org/research/regional_economy/regional_matters/2022/rm_05_05_2022_transportation
Provider: Federal Reserve Bank of Richmond
Part of Series: Regional Matters
Publication Date: 2022-05-05