Definition
In financial difficulty because of the excessive cost of owning a house, or because the cost of home ownership forms too high a proportion of household income.
See Also
How People Actually Use It
being relatively broke after purchasing a house or property due to the mortgage payments or other related expenses. although your total value and worth in assets is increasing by the mere fact that you are owning a property, your monthly liquid assets are fairly tight.
"The mortgage will be twice that of my current rent, I'm going to be so house poor after the closing."
Source: Urban Dictionary