“The root cause of the housing problem in this country is the large and growing gap between the cost of decent housing and household income, particularly renter household income … The housing crisis among America’s poor is real. For most of these households, housing costs are increasingly out of reach.”
The statement above comes from the National Low Income Housing Coalition “Out of Reach 2014” study. Actually, the statement is an excerpt from the 1989 edition. The newly released 2015 study continues, “Housing is Out of Reach as millions of Americans struggle to find affordable rents. In order to afford a modest, two-bedroom apartment in the U.S., renters need to earn a wage of $19.35 per hour. In 13 states and the District of Columbia they need to earn more than $20 per hour. The Housing Wage for a two-bedroom unit is more than two and a half times the federal minimum wage of $7.25, and $4 more than the estimated average wage of $15.16 earned by renters nationwide.”
Click on the graphic below to download the complete 2015 study.