Cost of Living Jumps for US Households; Mortgage, Rent and Bills Now Eat Up 34% of Income

The average US household now spends $25,513 a year on the 10 most common bills, up 34% of median household income and 19% since 2019.

Mortgage, rent, and auto loans are the biggest monthly bills, with average mortgage payments now $1,402 a month, rent $1,300, and auto loans $496.

Utilities, mobile phones, and health insurance costs have jumped the most, with utilities up 25% since 2019 to $362 a month.

Food prices and other daily expenses not in the form of a single bill also contribute to higher cost of living.

Despite recent dips, prices remain high for many key goods, so many Americans still feel economic strain.