Making tradeoffs to afford housing

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

PSRC’s new Regional Housing Needs Assessment(External link) 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(External link)

Share Making tradeoffs to afford housing on Facebook Share Making tradeoffs to afford housing on Twitter Share Making tradeoffs to afford housing on Linkedin Email Making tradeoffs to afford housing link