In an Enterprise article discussing the National Low Income Housing Coalition’s (NLIHC) 2017 Out of Reach report, it reveals that affordable housing is becoming too expensive for millions of American households.
The Out of Reach report is an annual report on the gap between wage levels and housing prices across the United States. The national housing wage, an estimate of what a full-time worker must earn to afford a decent affordable rental home without spending more than 30 percent of gross income on rent, is now $21.21 per hour for a modest two-bedroom apartment unit, which is nearly $14 higher than the federal minimum wage of $7.25 per hour.
As millions of families continue to face rising rents, wage stagnation and an inadequate supply of affordable housing, the demand for affordable housing is on the rise. These findings reinforce the importance of affordable housing programs and other programs that support affordable housing.
You can read further about these issues in the NLIHC 2017 Out of Reach report.