A New report was issues by the National Low Income Housing Coalition (NLIHC) titled Out of Reach 2012: America’s Forgotten Housing Crisis. The report states that rents are unaffordable in every single community in the country for working individuals. The interesting thing about the report is that it has an hourly figure for the cost of housing that you can compare to the average hourly wage. According to the report a ful time worker must earn on average 18.25 per hour to afford a two bedroom apartment with utilities while only making on average $14.15 per hour. Below are the five most expensive areas in the united states by “housing wage”
Metro Area Housing Wage
San Francisco, CA $36.63
Stamford-Norwalk, CT $34.02
Honolulu, HI $33.98
Nassau-Suffolk, NY $32.35
Orange County, CA $31.77
Additional findings from the report include:
- Hawaii has the highest state Housing Wage, at $31.68 per hour.
- Nine states in addition to Hawaii have Housing Wages over $20 per hour: California, New Jersey, Maryland, New York, Connecticut, Massachusetts, Virginia, and the District of Columbia.
- The most expensive nonmetropolitan areas for renters are in Massachusetts, Hawaii, Connecticut, and Alaska.