SWA2014-Wealth | Table 6.13 | Household financial obligations as a share of household income, for renters and homeowners, 1980–2011

Renters Homeowners
Total Total Mortgage Consumer
1980 24.3% 13.8% 8.3% 5.4%
1989 25.1 15.4 9.9 5.5
2000 29.6 14.9 8.7 6.2
2007 25.2 17.5 11.2 6.2
2011 24.1 14.4 9.5 4.9
Change
1980–1989 0.8 1.7 1.6 0.1
1989–2000 4.5 -0.5 -1.2 0.7
2000–2007 -4.5 2.6 2.5 0.1
2007–2011 -1.0 -3.1 -1.7 -1.4
1980–2011 -0.2 0.6 1.2 -0.6

Note: The financial obligations ratio is the ratio of debt payments (including minimum required payments on mortgages, consumer debt, automobile leases, homeowners’ insurance, property tax payments, and rent) to disposable personal income.

Source: Federal Reserve Board (2010b) data.

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