The Bureau of Labor Statistics (BLS) released a report on housing expenditures as part of the Spotlight on Statistics series. The report uses Consumer Expenditure Survey data to compare expenditures on housing shelter, utilities, furnishings, operations, and other household supplies across metropolitan areas. Nationally, on average, housing expenditures increased for rental housing between 2006 and 2012, while housing expenditures on “owned” dwellings fell between 2009 and 2012. In 2012, households spent the largest share (33%) of average annual expenditures on housing-related costs.
Household expenditures varied by metropolitan area, with variability largely driven by differences across housing costs, particularly the costs of shelter. Shelter costs for owned housing includes mortgage payments, property taxes, and maintenance costs; for rental housing shelter cost is rent. In 2012, households in the Washington, DC metropolitan area spent $17,603 annually, on average, on shelter-specific expenditures, nearly twice as much as households in Cleveland, Ohio ($9,061). Other metropolitan areas with high shelter-related expenditures included San Francisco ($17,773), New York City ($15,631), and San Diego ($14,989). When combining the costs of shelter with all other housing-related expenditures, households in the Washington, DC metropolitan area outspent ($27,475) households in all other metropolitan areas, including San Francisco ($25,901) and New York ($23,315).
Average annual household expenditures also differed between homeowners and renters in 2012. On average, homeowners spent less on mortgage interest and charges ($7,978) than renters spent on rent ($9,231). However, renters spent less on many other household-related expenditures, such as maintenance, repairs, and insurance, while homeowners spent more than twice as much on household furnishings and equipment than renters.
The report is available at http://www.bls.gov/spotlight/2014/housing/home.htm