Americans Spend an Average of $1,784 a Month on Housing -- but These Tricks Could Help You Spend Less

There are several ways to lower your housing costs -- and free up more cash for other things.

The average American spends $5,111 a month, according to recent data from the U.S. Bureau of Labor Statistics. But whether you own a home or rent one, chances are, housing is your greatest monthly expense.

The average American spends $1,784 a month on housing, making up almost 35% of total spending. But that's not what the typical American spends on a rent or mortgage payment alone. Rather, that $1,784 includes utilities and other types of household maintenance.

Either way, if your housing expenses are eating up too much of your income, there are steps you can take to lower them. Here are a few worth considering if money has gotten tight.

1. Get a roommate

Rent costs have been rising over the past year, and if yours has gotten too expensive, splitting that expense with a roommate could buy you a lot more financial flexibility. You might also be able to share other expenses with a roommate, like cable and internet service. Of course, you could always try negotiating with your landlord if your rent has spiked. But if that doesn't work, a roommate may be your best bet.

2. Refinance your mortgage

If you own a home, refinancing could make your monthly mortgage payments more affordable. Although mortgage rates have been higher this year than last year, they're still fairly competitive on a historical basis. If you're able to lower the interest rate on your mortgage substantially, you might slash your monthly payments in the process.

3. Be mindful of water and electricity usage

The average American spends $347 a month on utility costs. But a few changes in your habits could result in lower bills.

For one thing, get into the habit of turning lights off when you leave the room and unplugging appliances when they're not in use. That means shutting your laptop down at night rather than having it run while you're sleeping. Taking shorter showers could also slash your water bills quite a bit, as could waiting until your washing machine is full before running a load.

4. Do your own maintenance

One downside to owning a home is being responsible for maintenance (whereas if you rent, things like lawn care and snow removal are the responsibility of your landlord). But if you're willing to put in the time, you can save money on maintenance by outsourcing fewer tasks and doing more of them yourself. It especially pays to go this route if the work at hand isn't particularly complicated or dangerous.

If housing takes up a large chunk of your income every month, you're in good company. But it's important not to go overboard on housing, because if you do, you'll risk leaving yourself without enough money to cover your remaining bills. It pays to do what you can to lower your housing-related spending -- even if it means making some lifestyle changes and giving up a little more of your free time.