Out of Reach 2013
Every year for more than 20 years, the National Low Income Housing Coalition has released Out of Reach, its report on the Housing Wage: the wage one must earn in order to afford a modest rental home in communities across the country. Advocates can use this information to show members of Congress, state legislators, and local elected officials the great need for affordable housing and its impact on the daily lives of their constituents.
The Housing Wage in Out of Reach captures the gap between wages and rents across the country, and is the estimate of 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.
Read Out of Reach 2013 on the National Low Income Housing Coalition's website.
Source: National Low Income Housing Coalition