New analysis of the American Housing Survey (AHS) from the Harvard Joint Center for Housing Studies (JCHS) indicates that homeowners struggle to maintain their aging homes. As the nation’s housing stock sits at an average of 42 years old, home maintenance is necessary to keep residences comfortable and functional. As 29% of low-income homeowners live in houses built before 1960, the maintenance repairs often required of older homes, such as roofing, siding, windows, insulation and HVAC, are more costly than cosmetic remodeling. “Regardless of building age, higher-income homeowners consistently outspend…
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