Despite being recognized as one of the hottest housing markets in the U.S., a new study reveals that Tampa is among the cities where homeowners are grappling with the most financial stress.
The report by GoBankingRates analyzed the top 100 U.S. cities by population, taking into account each city’s total population, the number of residents aged 65 and over, the percentage of those 65+, total households, and the household median income. To assess financial stress, the study considered factors such as unemployment rate, poverty rate, and the percentage of households spending 35% or more of their income on monthly housing costs. Additionally, it factored in the average value of single-family homes, average mortgage costs, average expenditure costs, and the overall cost of living in each city.