Housing Affordability Challenges for Renters and Homeowners in the Rural Fifth District
Abstract: As previously discussed in this blog, homeownership affordability has been on the decline in rural communities throughout the Fifth District. The combination of elevated home prices and rising mortgage rates have made homeownership harder to achieve. But affordability challenges aren't limited to prospective homebuyers. Many existing rural homeowners and renters — especially low-to-moderate income (LMI) households — are burdened by their housing costs.
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Description: Discussion Paper
Provider: Federal Reserve Bank of Richmond
Part of Series: Regional Matters
Publication Date: 2023-09-07