Sunday, April 19, 2009

Study: Rental housing is ‘out of reach' for many

posted by SooYeon(Pia), Shin

A new study by the National Low Income Housing Coalition reports that rental housing is more difficult to find and too expensive for an increasing number of families.

The study, “Out of Reach 2009,” found that a household must earn $37,105 a year to afford the national average two-bedroom fair-market rent of $928 a month. Someone working full-time, year-round would have to make $17.84 an hour to afford it, according to guidelines that say no more than 30 percent of income should be spent on housing.
Yet the average hourly wage of a family that rents housing in the United States is just $14.69.

In Asheville, according to the report, a two-bedroom rental costs an average $690, 33 percent more than the average in 2000. A renter would need to make $13.27 an hour to afford it. At a mean wage for Asheville renters of $11.14 an hour, that means a renter would have to work 48 hours a week to afford it.

For someone trying to live on Social Security disability, there is not a single city in the country where an unsubsidized apartment is affordable.

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