New Data Shows Rental Housing is Out of Reach
According to a Out of Reach 2012: America's Forgotten Housing Crisis, released on March 13, the Housing Wage for Illinois is $16.78. The Housing Wage is the hourly wage a family must earn—working 40 hours a week, 52 weeks a year—to be able to afford the rent and utilities for a safe and modest two-bedroom apartment in the private housing market. The National Housing Wage is $18.25 in 2012.
An estimated 54% of renters in Illinois do not earn enough to afford a two-bedroom unit. The average renter in Illinois earns $13.95, which is $2.82 less than the hourly wage needed to afford a modest unit.
Jointly released by the National Low Income Housing Coalition and Housing Action Illinois, the report provides the Housing Wage and other housing affordability data for every state, metropolitan area, combined non-metropolitan area and county in the country.
Across the state the Housing Wage ranges from $18.94 in the Kendall County metropolitan area to $11.23 in the Macoupin County metropolitan area. The Housing Wage in the Chicago metropolitan area is $18.42.
The high cost of rental housing is why we continue to advocate for state and federal budgets that better address the affordability problem. Particularly for extremely low-income households, the amount that people can afford to pay for rent is much lower than the rents available in the unsubsidized private market.
For the complete Out of Reach report, visit http://www.nlihc.org/oor/2012.
Article courtesy Housing Action Illinois, March 22, 2012, from March advocacy alert and update. For more from Housing Action Illinois, visit their website and sign up for action alerts!
Lakeside Community Development Corporation is a proud member of Housing Action Illinois!