Affordable Housing, Reports and Publications

Housing Costs in CT are Not Affordable for Most Renters

National Low Income Housing Coalition, CT Housing Coalition
 

The average renter in Connecticut would have to work 60 hours a week, 52 weeks a year in order to afford the Fair Market Rate (FMR) for a two bedroom apartment without paying more than 30% of their income to housing.  In CT, the FMR for a two bedroom apartment is $1,226 while the average wage for renters is $15.81/hr, meaning over 50% of the average renters’ income is going to rent.

This data comes from Out of Reach, an annual report jointly released by the National Low Income Housing Coalition (NLIHC) and the Connecticut Housing Coalition (CHC) that compares wages to rents in every county, Metropolitan Area (MSAs/HMFAs), combined nonmetropolitan area and state in the United States. The report calculates the hourly wage a worker must earn to afford the FMR for a two-bedroom home - this figure is known as the Housing Wage.

Additional data about CT:

  • In order to afford a 2 bedroom FMR apartment at $1,226 a month, an individual would have to earn a housing wage of $23.58.
  • CT is ranked the 7th most expensive state, right behind New York which has a housing wage of $24.68.
  • The Stamford-Norwalk region is the second most expensive in the nation with a housing wage of $34.02.
  • Even non-metro areas have a housing wage ($19.89) that is higher than the average wage for a renter ($15.81)
  • About 2/3rd of CT renters are paying more than 30% of their income to housing.

For the full report click here.  
Here is the CT state report
CHC’s full press release is available here

 
 

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