The National Low Income Housing Coalition 's annual Out of Reach Report is out: Vermont ranks #19 among states with a "housing wage" above $23.00 per hour. Windham County has the 4th highest housing costs in the state of Vermont.
From the Vermont Affordable Housing Coalition :
Housing Costs Remain “Out of Reach” for Low-Wage Workers
In order to afford a modest, two-bedroom apartment at the Fair Market Rent in Vermont, renters need to earn $23.40 per hour, or $48,664 annually. This is Vermont’s Housing Wage, revealed in the annual Out of Reach Report released last week by the National Low Income Housing Coalition (NLIHC), a research and advocacy organization.
The report highlights the gap between what renters earn and what it costs to afford to rent at fair market value. In Vermont, the average renter earns $16.47 per hour, which is nearly $7 less than the housing wage for a modest two bedroom. This average renter can afford to pay $856 a month for their housing costs, while the average statewide Fair Market Rent for a two-bedroom is $1,217.
See how Vermont compares with the rest of the country here:
Original source can be found here.
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