"Out of Reach 2014" -NLIHC Report
||National Low Income Housing Coalition (NLIHC)|
April 10, 2014
The annual study published by National Low Income Housing Coalition (NLIHC) delves into the cost affordability of the rental market on full-time workers. Fair Market Rent (FMR) is defined by U.S. Department of Housing and Urban Development (HUD) as a person spending no more than 30 percent of their income on housing costs. “In the United States, the 2014 two-bedroom Housing Wage is $18.92. This national average is more than two-and-a-half times the federal minimum wage, and 52% higher than it was in 2000. In no state can a full-time minimum wage worker afford a one-bedroom or a two-bedroom rental unit at Fair Market Rent.” More...