Middle-Class Miami Spends 72%(!) of Its Income on Housing and Transportation - Derek Th... - 0 views
www.theatlantic.com/...265738
housing transport costs income metro historical trends economics transportation
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Food and clothes consumed 60% of consumer spending in 1900, but as we found more efficient ways to make burgers and socks, that number fell all the way to 17% in 2003.
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in most major cities, we spend the majority of our income on planes, trains, automobiles, and dwellings.
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In the Miami metro area, middle-lower-income families spend a whopping 72% of their income on housing and transportation
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The Least Affordable Neighborhood in the U.S.? From the report: "In the Philadelphia region, moderate-income households are faced with average housing and transportation costs exceeding 90 percent of their income in some neighborhoods."
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The Price of Density: Housing in Houston isn't so bad -- it's the 8th most affordable large city to own a home in. But the same thing that helps make it an affordable place to own a home (lots of space!) also raises its commuting costs. Factor in transportation, and it's the 8th least affordable large city to live.
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dense expensive cities like San Francisco, Boston and New York are considerably more affordable when you add in transportation costs because of their superior public transit.
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Nationwide, Housing Grew 2X as Fast as Income: Combined H&T expenses average $30,296 for a median-income household, according to the report. But they're growing much faster than median household income.