Arkansas Housing Costs Taking up More of Incomes

OCTOBER 3, 2006 - Posted at 7:54 a.m. CDT

LITTLE ROCK, AR - Arkansans join their fellow Americans in spending more of their incomes on housing costs last year than at the start of the decade.  Census Bureau figures show that only housing costs for Alaskans amounted to the same portion of their incomes.

But Arkansans fared better than homeowners in many other states.

The percentage change for Arkansans from 1999 to 2005 amounted to only .9 percent, rising from 16.2 to 17.1.  That means Arkansas homeowners last year spent 17.1 percent of their incomes on such costs as mortgage payments, property tax, home insurance and utilities.

Nationwide, homeowners spent nearly 21 percent of their incomes on housing costs last year, up from just under 19 percent in 1999.

(Copyright 2006 by The Associated Press.  All Rights Reserved.)