UWM’s Community Spotlight – Housing Stability in Our Community

Currently there are more than 51,000 households in the Omaha-Council Bluffs metro where the occupants pay 30 percent or more of their family income on rent, which is 45 percent of all metro households who pay rent or a mortgage. Professionals in the world of personal finance and banking, as well as writers of federal policy aim for people to spend less than 30 percent of their household income on rent or mortgage. Dedicating more than that amount means less income is available for other basic needs like healthy food, medical care and transportation. It also limits a family’s ability to address their financial risk in proactive ways such as building a savings account or purchasing insurance. If incomes unexpectedly decrease or unexpected expenses occur, families can be at a high risk for eviction and that could mean moving, perhaps more than once.