Low-income earners spending disproportionate rate on mortgages, Zillow says

  • Zillow says low-income earners can expect to devote 22.7 percent of income toward mortgages, compared to high-income earners spending just 11.5 percent of income on mortgages.
  • In a third of U.S. markets, low-income earners should expect to spend over 30 percent of income toward housing.
  • Bottom tier buyers in San Francisco spend a whopping 68.4 percent of income on mortgages.
  • In Chicago, low-income buyers can expect to spend 22.1 percent of income on mortgages.

Mortgage rates are nearing all-time lows, but that doesn’t mean everyone can afford to buy, according to a recent Zillow release. The study says low-income earners in the U.S. can expect to devote an average of 22.7 percent of income toward mortgages, compared to high-income earners spending just 11.5 percent of income on mortgages.