Tuesday, March 12, 2013

Housing Moves Further Out Of Reach via Multifamily Executive Magazine

It is getting harder for low-income Americans to afford a modest apartment.

In no state can an individual working a 40-hour week at the minimum wage afford a two-bedroom apartment for his or her family. A one-bedroom apartment is even out of the worker's grasp.

The 2013 housing wage is $18.79, exceeding the $14.77 hourly wage earned by the average renter by $4 an hour, and greatly exceeding the national minimum wage of $7.25, reports the National Low Income Housing Coalition (NLIHC) in its new "Out of Reach 2013" report.

Read more...Housing Moves Further Out Of Reach - Housing Data, Affordable Housing - Multifamily Executive Magazine

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