Total housing costs as a percent of monthly income five, Ask an Expert

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The amount of income spent on housing is an important component of the cost of living. The total costs of housing for homeowners might include mortgage payments, prop- erty taxes, and utility costs (water, heat, electricity). An economist selected a sample of 20 homeowners in New England and then calculated these total housing costs as a percent of monthly income, five years ago and now. The information is reported below. Is it reasonable to conclude the percent is less now than five years ago?

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