Mortgage Holders

As inflation ravages American bank accounts, monthly bills are becoming a strain on homeowners’ finances. New data from fintech doxo shows that the average U.S. household spends 35% of their median income on essential household bills– roughly $2,046 per month, and $25,000 a year. But the actual impact varies hugely by state. Doxo analyzed typical household bills such as auto loans, utilities, cable and internet, and alarms and security, along with a monthly mortgage payment or rent, to gauge a state’s affordability. Hawaii, the most expensive state for household bills, sits at a markup of 50% above the national average. At the other end of the spectrum is West Virginia at -25.2% below that average. “As consumers navigate their household…