HOUSING AFFORDABILITY AND AVAILABILITY

  • There’s not a single state, county, or metropolitan area in the entire United States where a full-time worker earning the federal minimum wage of $7.25 an hour can afford a modest 2-bedroom apartment. (CNN)

  • U.S. workers need to earn $22.10 an hour to afford a modest two-bedroom rental. That’s about three times the federal minimum wage.

  • On average, housing expense now consumes over 40% of family income. LEARN MORE

  • Median priced homes were unaffordable for people earning the average wage in 75% of U.S. counties (Business Insider, 2018)

  • “Unfortunately, home-price and rent growth above incomes — driven primarily by a severe shortage of housing supply — have been too high of a hurdle for many would-be buyers to clear.” (Sam Khater, Freddie Mac’s chief economist) LEARN MORE

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