The household income grew at the fastest rate on record, said Council of Economic Advisers Chairman Jason Furman in a blog post on the White House website. The report, he said, "shows the remarkable progress that American families have made as the recovery continues to strengthen. Income grew for households across the income distribution, with the fastest growth among lower- and middle-income households." He also noted that the poverty rate fell faster than at any point since 1968, and the rate of those without health insurance also declined. The official poverty rate fell 13.5% with 43.1 million in poverty, 3.5 million less than in 2014, the bureau said.
Middle-class families are starting to see their biggest housing challenges ease. Housing affordability is finally improving after years during which the struggle to pay rent swelled to crisis levels for many poor and middle-class Americans, according to an analysis of American Community Survey data recently released. Jed Kolko, chief economist at job-site Indeed and senior fellow at the Terner Center for Housing Innovation at the University of California, Berkeley, said just over 49% of renters were cost-burdened in 2015, meaning they spent more than 30% of their incomes in rent, compared with about 50% a year earlier—the lowest level since 2008. Indeed, across the board, there are signs that affordability challenges are beginning to ease. Some 33.6% of households were cost-burdened in 2015, meaning they spent more than 30% of their incomes on housing costs, down from 34.6% a year earlier, the fifth straight year of declines.