National Low Income Housing Coalition Releases “2013 Out of Reach” Report
The National Low Income Housing Coalition (NLIHC) released its annual Out of Reach report that captures the gap between wages and rents across the country, and estimates the full-time hourly wage that a household must earn to afford a decent apartment at the HUD estimated Fair Market Rent (FMR), while spending no more than 30% of income on housing costs. The 2013 Housing Wage is $18.79, exceeding the $14.32 hourly wage earned by the average renter by almost $4.50 an hour, and greatly exceeding wages earned by low income renter households. Each year, Out of Reach demonstrates that large numbers of low income renters cannot afford the cost of living in the cities and towns where they work. This edition underscores the challenges facing the lowest income renters: increasing rents, stagnating wages, and a shortage of affordable housing. The urgent solution to these issues is clear: expanding the supply of affordable housing units, dedicated to the lowest income renters. To download the full report and read more information on its findings, please visit the NLIHC’s website.
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