not see that "affordable" housing is based on what you CAN afford...
too often we do not view/see the level of income that you HAVE to have to buy a home...
And, when we see an increase in the interest rates, or the prices of homes...
what we can miss is the number of people that are now excluded.
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Arizona's Housing Wage: do you make enough to afford decent housing?
The average Arizona family must earn $17 an hour to afford decent housing and utilities in Arizona now.
The figure is considered "Arizona's housing wage" and comes from the report Out of Reach 2010 published by the National Low Income Coalition and the Arizona Housing Alliance this week.
Arizona is the 18th most expensive state for housing costs in the nation. The National Housing Wage is $18.44 in 2010.
“Again the Out of Reach data demonstrates that it is becoming more difficult for low income families to find decent homes they can afford in Arizona,” said Valerie Iverson, executive director of the Arizona Housing Alliance. “The recession has only made a bad situation worse. We must act now to ensure that low income families have access to the safe and affordable housing they so desperately need.”
Working at the minimum wage, a family must have 2.3 wage earners working full-time – or one full-time earner working 94 hours per week – to afford a modest two-bedroom apartment.
The typical renter in Arizona earns $13.74, which is $3.26 less than the hourly wage needed to afford a modest unit.
An estimated 49 percent of renters in Arizona do not earn enough to afford a two-bedroom apartment.
Thursday, April 22, 2010 at 03:36 PM
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