X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WASHINGTON, DC-A National Low Income Housing Coalition study disclosed earlier this week has concluded that America is failing, miserably, to meet the needs of families that depend on affordable housing. The report, “Out of Reach: 2003,” calculates the national housing wage–or, the dollar amount a full-time worker must earn to pay rent on a fair market rate two-bedroom rental residence without parting with more than 30% in total income–at $15.21 per-hour. However, this year’s national housing wage in 11 states is nearly three times that of the current minimum wage and double the minimum wage in 40 states.

“It is appalling that here in America, the richest country in the world, we have millions of people working full-time, plus seniors and people with disabilities, who cannot afford decent, modest rental housing,” NLIHC president Sheila Crowley notes. “‘Out of Reach’ clearly establishes that there is a gap between what people earn and what housing costs.” Massachusetts makes the top of the list as the least affordable state for affordable housing in the country, while San Jose, CA leads the pack as the least affordable metropolitan area.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.