Fact checked by Betsy Petrick Grace Cary / Getty Images Rising costs have made it challenging for households to keep their monthly housing expenses to 28% or less of their gross income. Key Takeaways Median monthly housing costs for homeowners with a mortgage rose to $2,035 in 2024, and median gross rent reached $1,487, outpacing the rate of inflation. These costs are 43% (homeowners) and 31% (renters) of the median household income, both higher than the 28% that financial experts recommend for housing ...