In Richmond 60.3% of home owners have a mortgage on their home. 21.7% of home owners in Richmond spend more than 30% of their household income on shelter costs. When it comes to rented homes, 14.3% of the rented homes in Richmond are subsidized and the remaining 85.7% pay market rent. Subsidized housing is government sponsored economic assistance program aimed towards alleviating housing costs and expenses for people in need with low to moderate incomes. 41.3% of tenants in Richmond spend over 30% of their household income on shelter costs.
|Homes with a mortgage||60.30%|
|Homes spending more than 30% of household income on the home||21.70%|
|Homes that are subsidized by tax payers||14.30%|
|Rented homes where more than 30% of household income is spent on shelter costs||41.30%|