Average worker can't afford 2-bedroom apartment anywhere in US
15 June, 2018, 15:54 | Author: Gerard Cortez
According to a new report from the National Low Income Housing Coalition released Wednesday, there is nowhere in the US that someone working full-time at a minimum wage job could afford to rent a two-bedroom apartment.
The National Low Income Housing Coalition and the Coalition on Homelessness and Housing in OH released a report today revealing that most OH jobs don't pay enough to cover the cost of rent. In Honolulu, residents earning minimum wage need to work 3.9 full-time jobs to afford a two-bedroom at fair market rent. A worker would need to have 1.6 full-time jobs at minimum wage to afford housing.
The only places with a higher housing wage than MA are Maryland, New York, California, Washington D.C. and Hawaii.
In Virginia, where the minimum wage is $7.25, the gap is even greater. The hourly wage necessary to afford a two-bedroom unit in Hawaii County is $25.42.
The number of renters has increased by almost 10 million since 2005, but most new rental construction over the past ten years has been geared toward the high end of the rental market.
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The researchers based their findings on each region's fair market rent - a number set by the U.S. Department of Housing and Urban Development that estimates the standard cost of rent and utilities in an area.
"The housing crisis has reached historic heights, most negatively impacting the lowest income renters", said Diane Yentel, the coalition's CEO". It's all detailed in Out of Reach 2018, a new report from the National Low Income Housing Coalition. In the Seattle-Bellevue metro area and King County, the numbers are higher: $26 an hour for a studio, $29 for a one-bedroom, $36 for a two-bedroom, and $52 for a three-bedroom.
The NLIHC then used that number to determine how much a full-time worker has to earn without spending 30% of their income on housing.
But if you're one of the many Bay Area residents fleeing because of the local housing crisis, you may still have difficulty elsewhere. The same worker would still need to work 99 hours a week every week of the year to afford a one-bedroom.
Champlain Housing Trust will build 76 new apartments this summer in Burlington and 60 additional units in South Burlington later in the year thanks to a $37 million bond to VHCB, Donelly said. Seven of the ten jobs expected to grow the most over the next decade pay less than the amount needed to afford a one-bedroom or two-bedroom apartment, according to the report. Even now, only one in four households eligible for federal rent assistance gets it. These programs have been chronically underfunded, and the Trump administration has proposed raising the rents of these affordable housing options. Bernie Sanders in the report's preface.
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