Despite growing household sizes, many Americans can't afford to buy larger homes.
Even as families grow in size, high mortgage rates have kept many households from purchasing a home that would better suit their space requirements. A recent study from online lending platform LendingTree shows that 19.1 million, or about 5.9% of households, live in overcrowded homes, where two or more people have to share a bedroom. This issue is most common in states where housing is more expensive. California has the highest rate of overcrowded homes, with 12.9% of residents living in spaces with more than two people per bedroom. Hawaii follows closely behind, with 11.5% of households deemed overcrowded, and in New York, 9.7% of homes are considered overcrowded.
Looking at this more simply by extra bedrooms rather than overcrowded ones, 38.1% of Americans who live in homes have more bedrooms than people. Having just one extra bedroom (20.8%) is most common, but a significant 8.2% have at least three more bedrooms than residents. (Note: This doesn’t account for couples who may share a room.)
By state, those who live in Wyoming are the most likely to have extra space, with 47.2% of people living in homes with more bedrooms than residents. Delaware (46.9%) and North Dakota (46.4%) follow. Schulz says lower housing costs may play a role.Read more
