Underserved communities, including low-income households and communities of color, are disproportionately affected by the combined challenges of inefficient housing and high energy costs. These residents often live in older, less energy-efficient homes that require more energy to heat and cool, resulting in a higher energy burden—the proportion of household income spent on utilities. Elevated energy burden can force households to make difficult trade-offs, such as foregoing basic necessities to pay utility bills, a dilemma commonly referred to as the "heat or eat" problem. In other cases, residents may engage in restrictive energy behaviors, such as keeping their homes at unsafe or uncomfortable temperatures, which can contribute to respiratory illness, cardiovascular stress, and other adverse health outcomes. As a result, these communities are burdened not only economically, but also physically and socially, by energy inefficiency. Energy efficiency retrofits—such as improved insulation, air sealing, and efficient appliances—offer a powerful solution to reduce energy costs, improve indoor comfort, and mitigate greenhouse gas emissions. These upgrades align with national and international goals to decarbonize the building sector, which is essential for addressing climate change. However, there is growing concern that decarbonization efforts, if not carefully designed, could unintentionally increase housing costs or exacerbate affordability challenges, particularly for renters and low-income homeowners. To better understand these dynamics, this study surveyed 237 residents in Cincinnati, Ohio, to examine how knowledge, attitudes, financial constraints, perceived agency, and household behaviors differ across income levels and influence participation in energy retrofits. In-depth, semi-structured interviews with a sub-sample of homeowners and renters provided richer insights into barriers and opportunities for engagement. Findings reveal the complex interplay between socioeconomic factors and retrofit adoption, offering practical recommendations for equitable, community-centered approaches to home decarbonization.