The issue of being house poor has become increasingly common, with more than 25% of Americans falling into this category. That means around 75 million Americans are living through this phenomenon.
This financial burden is particularly prevalent in major cities such as Miami, New York, Los Angeles, and Honolulu, where the cost of living is exorbitant. In these urban centers, it has become nearly impossible to avoid being house poor due to soaring housing prices and limited affordable housing options.
For instance, New York City stands out as a prime example, with just under half of its population classified as house poor.