Teachers, who do the invaluable work of educating children yet are paid untenably low salaries, are finding themselves increasingly crunched on housing costs. Nationwide, 19.9% of households where a teacher is the primary earner are burdened by their housing costs.
“Cost-burdened” is a term commonly used to measure financial stability. “The rule of thumb is that you should be spending no more than 30% of your gross income on your housing costs, whether it’s your mortgage or monthly rent,” Chris Salviati, the author of the report, told Ladders. “People spending more than that are considered cost-burdened.”
Follow Ladders on Flipboard!
This is a 21.3% higher than the cost-burden rate for households where the primary earner is not a teacher but does have a college degree.
Among primary-earner teachers who rent, the cost burden rate was 28.2% as of 2017, up from 24.5% in 2010. Preschool and kindergarten teachers are worse off than teachers in grade 1-12 classrooms, as they earn less. Preschool and kindergarten teachers who are primary earners have a cost-burden rate of 41.2%, more than double the rate for teachers as a whole.
You might also enjoy…
- New neuroscience reveals 4 rituals that will make you happy
- Strangers know your social class in the first seven words you say, study finds
- 10 lessons from Benjamin Franklin’s daily schedule that will double your productivity
- The worst mistakes you can make in an interview, according to 12 CEOs
- 10 habits of mentally strong people