Out of Reach

Out of Reach:

Rental Housing At What Cost?

October, 1998

The Worst States

Estimated Percent Renters Unable to Afford Two Bedroom FMR		Estimated Percent of Federal Minimum Wage ($5.15/hour) Needed to Afford Two Bedroom FMR		Estimated Hours/Week Needed to Work at Minimum Wage to Afford Two Bedroom FMR
New York	44%	Hawaii	368%	Hawaii	147
Vermont	44%	New Jersey	309%	New Jersey	124
Alaska	43%	New York	306%	New York	122
Rhode Island	43%	District of Columbia	303%	District of Columbia	121
Wyoming	43%	Massachusetts	293%	Massachusetts	117
Arizona	41%	Alaska	285%	Alaska	114
California	41%	Connecticut	283%	Connecticut	113
Florida	41%	California	279%	California	112
Maine	41%	Illinois	263%	Illinois	105
New Jersey	41%	Maryland	257%	Maryland	103
New Mexico	41%	New Hampshire	256%	New Hampshire	102
Illinois	40%	Nevada	256%	Nevada	102

NOTES:

FMR = Fair Market Rent
AMI = Area Median Income, determined by HUD
HUD = Department of Housing and Urban Development
EST RTR MEDIAN = 1998 Estimated Renter Median Income, based on 1990 renter median income as percent of household median income
Income Needed to Afford = Affordability is based on the official 30%-of-income standard used in federal housing subsidy programs.
% Unable to Afford = percent ofrenter population whomust pay more than 30% of income for rent.
Wage calculations are based on a 40 hour week for 52 weeks per year.
The federal minimum wage is $5.15/hour.
Rows are shaded for navigational purposes only.

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