[Hpn] Out of Reach: America's Growing Wage-Rent Disparity: 9/2001 :: Released/Online

Morgan W. Brown norsehorse@hotmail.com
Wed, 03 Oct 2001 16:05:13 -0400


For those who have not already come across it yet, the National Low Income 
Housing Coalition's (NLIHC) "Out of Reach" report for 2001 has been released 
& is available online at the NLIHC Web site. Below is a forward of an 
excerpt of the report introduction.

Following that is a forward of excerpts for Vermont from the Out of Reach: 
America's Growing Wage-Rent Disparity, September 2001 report, for those 
interested in Vermont's numbers from it.

Morgan <norsehorse@hotmail.com>
Morgan W. Brown
Montpelier Vermont

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-------Forwarded FYI-------

Out of Reach: America's Growing Wage-Rent Disparity: September
2001:

http://www.nlihc.org/oor2001/index.htm

~~~Forwarded excerpts:

Many people know that millions of households in
the United States cannot afford to pay for decent housing. Far fewer
people know the extent of the affordability problem in their own
communities. The National Low Income Housing Coalition produces Out
of Reach in an effort to provide this information to policy makers
and advocates. Out of Reach contains income and rental housing cost
data for the fifty states, the District of Columbia, and the
territory of Puerto Rico by state, metropolitan area, and county or,
in the case of New England, town. For each, it calculates the income
that renter households need in order to afford rental housing and
estimates how many of these households cannot afford to pay the Fair
Market Rent (FMR), and what they would need to earn to pay the rent
and keep their housing costs at 30 percent of their income, the
generally accepted standard for affordability established by Congress
and the Department of Housing and Urban Development.

---end of forwarded excerpts---

~~~Forwarded Vermont excerpts -- FYI:

In Vermont, an extremely low income household (earning $14,190, 30%
of the Area Median Income of $47,300) can afford monthly rent of no
more than $355, while the Fair Market Rent for a two bedroom unit is
$687.

A minimum wage earner (earning $6.25 per hour) can afford monthly
rent of no more than $325.

An SSI recipient (receiving $571 monthly) can afford monthly rent of
no more than $171, while the Fair Market Rent for a one-bedroom unit
is $534.

In Vermont, a worker earning the Minimum Wage ($6.25 per hour) must
work 85 hours per week in order to afford a two-bedroom unit at the
area's Fair Market rent.

In Vermont, 43% of renter households pay more than 30% of their
income for rent.

The Housing Wage in Vermont is $13.21. This is the amount a worker
would have to earn per hour in order to be able to work 40 hours per
week and afford a two-bedroom unit at the area's Fair Market rent.
This is 211% of the present Minimum wage ($6.25 per hour). Between
2000 and 2001 the two bedroom housing wage increased by 10.93%.

A unit is considered affordable if it costs no more than 30% of the
renter's income.

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**In accordance with Title 17 U.S.C. section 107, this
material is distributed without charge or profit to
those who have expressed a prior interest in receiving
this type of information for non-profit research and
educational purposes only.**

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-------End of forward-------

Morgan <norsehorse@hotmail.com>
Morgan W. Brown
Montpelier Vermont USA




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