2024 CT’S HOUSING WAGE FACTSHEET

Changes in the economy, household formation, inflation, and wage stagnation leave many in Connecticut struggling to afford housing. Many jobs pay less than what is needed to afford a typical 2-BR apartment (known as the housing wage) at $34.54/hour. One third of all Connecticut households rent, and the average hourly wage of a Connecticut renter, $20.30, falls below the wage even needed to afford a typical 1-BR apartment at $27.98/hour. Over the past year, the income needed to afford 1- and 2-BR apartments has increased by 8%, while the average hourly wage of a Connecticut renter has increased by only $0.01. To spend no more of 30% of their income on housing, a full-time worker at Connecticut’s minimum wage would only be able to afford an apartment priced at $815/month.

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