Affordable Housing, Community Development, Reports and Publications, State News

Connecticut’s Housing Wage Increases, As Does the Nation’s

National Low Income Housing Coalition (NLIHC)
 

Connecticut’s housing wage has finally topped $24, now at $24.29, up from $23.02 last year. According to Out of Reach 2015, released May 19 by the National Low Income Housing Coalition’s (NLIHC), the housing wage increased nationwide to $19.35 up from $18.92 in 2014. Out of Reach is NLIHC’s annual national report on the housing wage, the hourly wage a person working 40 hours a week would need to earn in order to afford a two-bedroom rental.

Connecticut remained 8th in the nation for highest housing wage. At this rate, someone earning Connecticut’s minimum wage of $9.15 an hour would have to work 106 hours a week to afford a 2-bedroom apartment without spending more than 30% of their income. Connecticut’s gap between renter wage (estimated hourly wage among renters by region) and two bedroom housing wage is ranked 5th in the nation.

CT also has two of the top ten highest housing wages for metropolitan areas. The Stamford-Norwalk Metropolitan Statistical Area (MSA) is the 2nd most expensive at $37.37 and Danbury, CT is 10th at $30.44. Connecticut also ranks in the top ten for most expensive housing wage for nonmetro areas, coming in at 5th with a $19.15 nonmetro area housing wage. Each year this report is a stark reminder of the need for affordable housing throughout the country.

NLIHC’s Out of Reach 2015 was released with a new interactive website equipped with graphics, infographics, and maps. The website gives users the ability to compare data across jurisdictions.

Read the full report, check out their cool graphics, and their new website here.

You can find Connecticut-specific data here.

 
 

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