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88HOUSING2040 COMPREHENSIVE PLAN UPDATE DRAFT Dec14-17 <br />for review only <br />Image Placeholder <br />Cost Burdened Households <br />Families who pay more than 30% of their income for housing are <br />considered cost burdened by Department of Housing and Urban <br />Development (HUD)� Families that pay more than 30% of their income <br />for housing may have difficulty paying for necessities such as food, <br />clothing, transportation and medical care� Providing the opportunity <br />for affordable housing to develop is a component of healthy City <br />infrastructure� <br />The percentage of Hugo residents considered cost burdened increased <br />in 2010 for both homeowners and renters� However, the U�S� Census <br />Bureau estimates that the percent of cost burdened households <br />that own homes declined by 2015 to 16% (725 households) while <br />the percent of households that rent remained steady at 48% (293 <br />households)� <br />17%19% <br />35% <br />16%16%22% <br />48%48% <br />0% <br />10% <br />20% <br />30% <br />40% <br />50% <br />60% <br />1990 2000 2010 2015 <br />Percentage of Households that are Cost Burdened in Hugo, <br />1990-2015 <br />Home owners spending 30% or more on housing <br />Renters spending 30% or more on housing <br />Source:U.S. Census Bureau <br />Figure 4-3