Making tradeoffs to afford housing

'You’re picking between clothes, food, shelter, and childcare'

PSRC’s new Regional Housing Needs Assessment finds that a household needs to earn about $30 per hour—more than double the minimum wage—to afford a median priced apartment.

The incomes of many residents are not keeping up.

Across the region, most lower- and moderate-income renters—households with less than $50,000 annual income—spend more than 30% of their incomes on housing. This disproportionately includes American Indian, Black, and Latinx households who are more likely to be cost-burdened than white households.

A household is considered cost-burdened if it pays more than 30% in housing expenses and severely cost-burdened if it pays more than 50%.

Read more at https://www.psrc.org/whats-happening/blog/making-tradeoffs-afford-housing

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