An organization called the National Low-Income Housing Coalition has released its annual nationwide county-by-county report comparing the cost of rental housing with what people need to earn to afford it.
The report titled “Out of Reach 2018”, and with a foreword by Senator Bernie Sanders, asserts that there is no county in the United States where someone working full-time and earning the minimum wage can afford the basic rental unit, a two-bedroom house or apartment, at the national average fair market rent. The formula sets the rate at thirty percent of a worker’s income.
In Pennsylvania, the report concludes that the fair market rent for a two-bedroom apartment is $1,015 per month. A renter would have to make $3,385 per month, which is $40,616 per year. That’s an hourly full-time wage of $19.53.
According to the report, the cost of a two-bedroom apartment in Indiana County is $777. A renter would need to earn $31,080 per year to afford to rent that unit, which equates to 2.1 full-time jobs at minimum wage. Indiana County actually does rather well in that respect, with a median income of $64,700. At thirty percent, you could afford a two-bedroom apartment priced at $1,618 per month.
29 percent of Indiana County’s housing is rental units. The county’s 9,917 renters earn an estimated $10.17 per hour, meaning they would need to hold down 1.5 full-time minimum wage jobs to afford their housing.
HERE IS HOW INDIANA COUNTY’S NEIGHBORS FARE IN THE REPORT:
Armstrong County: The two-bedroom fair market rent is $711. The hourly wage to afford it is $13.67.
Cambria County: Fair market rent is $697. Hourly wage to afford it is $13.40.
Clearfield County: Fair market rent is $716. Hourly wage to afford it is $13.77
Jefferson County: Fair market rent is $697. Hourly wage to afford it is $13.40
Westmoreland County: Fair market rent is $884. Hourly wage to afford it is $17.
Visit http://nlihc.org to learn more.
