Out of Reach

Out of Reach 2001: America’s Growing Wage-Rent Disparity
How to Use the Numbers


Sample Data: Transylvania County, North Carolina


Location Number of Renter Households
1990 2000 Percent Change,
1990-2000
Transylvania County   2,096  2,539  21.14%
In 1990, there were
2,096 renters in
Transylvania County,
North Carolina.		  In 2000, there were
2,539 renters in
Transylvania County,
North Carolina.		 The number of renters increased
21.1% between the 1990
and 2000 Census.
2001 Family Income
Location 2001 Estimated Median Family Income (HUD) Maximum Affordable Monthly Housing Cost by % of Family AMI
Annual Monthly 30% 50% 80% 100%
Transylvania County   $43,500  $3,625  $326  $544  $870  $1,088
  The median annual family income is $43,500. The median monthly family income is $3,625. For an extremely low income family, earning 30% of the Area Median Income, monthly rent of $326 or less is considered affordable. For a very low income family, earning 50% of the Area Median Income, monthly rent of $544 or less is considered affordable. For a moderately low income family, earning 80% of the Area Median Income, monthly rent of $870 or less is considered affordable. For a family earning 100% of the Area Median Income, monthly rent of $1,088 or less is considered affordable.
2001 Fair Market Rents by Number of Bedrooms
Location Zero One Two Three Four
Transylvania County   $350  $375  $474  $628  $671
  The Fair Market Rent for a 0 bedroom rental unit is $350. The Fair Market Rent for a 1 bedroom rental unit is $375.  The Fair Market Rent for a 2 bedroom rental unit is $474.  The Fair Market Rent for a 3 bedroom rental unit is $628.  The Fair Market Rent for a 4 bedroom rental unit is $671.
Income Needed to Afford FMR
Location Amount Percent of Family AMI
Zero
Bedrooms		 One
Bedroom		 Two
Bedrooms		 Three
Bedrooms		 Four
Bedrooms		 Zero
Bedrooms		 One
Bedroom		 Two
Bedrooms		 Three
Bedrooms		 Four
Bedrooms
Transylvania County  $14,000  $15,000  $18,960  $25,120  $26,840  32%  34%  44%  58%  62%
For a 0 bedroom unit to be affordable, a renter would need an annual income of $14,000. For a 1 bedroom unit to be affordable, a renter would need an annual income of $15,000. For a 2 bedroom unit to be affordable, a renter would need an annual income of $18,960. For a 3 bedroom unit to be affordable, a renter would need an annual income of $25,120. For a 4 bedroom unit to be affordable, a renter would need an annual income of $26,840. The income needed to afford a 0 bedroom unit at the Fair Market Rent represents 32% of the AMI. The income needed to afford a 1 bedroom unit at the Fair Market Rent represents 34% of the AMI. The income needed to afford a 2 bedroom unit at the Fair Market Rent represents 44% of the AMI. The income needed to afford a 3 bedroom unit at the Fair Market Rent represents 58% of the AMI. The income needed to afford a 4 bedroom unit at the Fair Market Rent represents 62% of the AMI.
 Location
Housing Wage
Hourly Wage Needed to Afford
(@ 40 hrs./wk.)
Percent Change
in 2BR
Housing Wage
(2000-2001)
As % of Minimum Wage
( NC=$5.15 )
Zero
Bedroom
FMR
One
Bedroom
FMR
Two
Bedroom
FMR
Three
Bedroom
FMR
Four
Bedroom
FMR
Zero
Bedroom
FMR
One
Bedroom
FMR
Two
Bedroom
FMR
Three
Bedroom
FMR
Four
Bedroom
FMR
Transylvania County
 $6.73
  $7.21  $9.12
 $12.08
  $12.90  2.60% 131%
140%
177%
 234% 251%
A renter household would need to earn $6.73 per hour for a 0 bedroom unit at Fair Market Rent to be affordable. A renter household would need to earn $7.21 per hour for a 1 bedroom unit at Fair Market Rent to be affordable. A renter household would need to earn $9.12 per hour for a 2 bedroom unit at Fair Market Rent to be affordable. A renter household would need to earn $12.08 per hour for a 3 bedroom unit at Fair Market Rent to be affordable. A renter household would need to earn $12.90 per hour for a 4 bedroom unit at Fair Market Rent to be affordable. Between 1999 and 2000, the amount a renter would have to earn in order to afford a 2 bedroom unit increased by 2.60%. The housing wage for a 0 bedroom unit represents 131% of the minimum wage. The housing wage for a 1 bedroom unit represents 140% of the minimum wage. The housing wage for a 2 bedroom unit represents 177% of the minimum wage. The housing wage for a 3 bedroom unit represents 234% of the minimum wage. The housing wage for a 4 bedroom unit represents 251% of the minimum wage.
Location
Work Hours/Week
Necessary at Minimum
Wage to Afford
( NC=$5.15 )
Zero
Bedroom
FMR
One
Bedroom
FMR
Two
Bedroom
FMR
Three
Bedroom
FMR
Four
Bedroom
FMR
Transylvania County  52  56  71  94  100
A renter earning the minimum wage must work 52 hours per week to afford a 0 bedroom unit at the Fair Market Rent. A renter earning the minimum wage must work 56 hours per week to afford a 1 bedroom unit at the Fair Market Rent. A renter earning the minimum wage must work 71 hours per week to afford a 2 bedroom unit at the Fair Market Rent. A renter earning the minimum wage must work 94 hours per week to afford a 3 bedroom unit at the Fair Market Rent. A renter earning the minimum wage must work 100 hours per week to afford a 4 bedroom unit at the Fair Market Rent.