Finance

62 percent of Americans worried about paying for housing in the next year: poll

Builders work on a condominium building under construction
Associated Press/Robert F. Bukaty
Builders work on a four-story, 45-unit condominium building under construction May 31, 2022, in Portland, Maine.

Most Americans are worried about paying for housing, according to a survey conducted by market financing company Freddie Mac.

Sixty-two percent of the 2,000 adults surveyed said that they are somewhat or very concerned about being able to cover their housing in the coming year, and 69 percent said that they are somewhat or very worried about higher home prices in general.

Among the highest concerns surveyed were those on an impending economic recession, at 84 percent, and rising interest rates, at 77 percent, while half said that they are worried about losing their jobs.

Fifty-eight percent of respondents said that their rent has gone up in the past 12 months, as inflation rates have soared, with 6 percent saying that it had increased by 30 percent or more.

Almost 20 percent said that the increase in rent made them “extremely likely” that they might miss a rent payment, while 38 percent said that the hike made that somewhat likely.

Sixty-one percent of respondents said that they sometimes do not have enough money for the “basics,” such as food and housing, or they live payday to payday and have “just enough money to get by.”

The poll was conducted June 6-10 of this year, using an online survey that Freddie Mac described as “nationally representative.”

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