Out of Reach Report 2018
The National Low Income Housing Coalition released its annual Out of Reach report for 2018 on June 13. The report documents the gap between renters’ wages and the cost of rental housing. The report uses the Housing Wage – the hourly wage a full-time worker must earn to afford a modest rental home without spending more than 30% of his or her income on housing costs. This is based on HUD’s Fair Market Rent – an estimate of what a family moving today can expect to pay for a modest rental home in the area. NLIHC releases reports at the national, state, county and metropolitan area level.
So how out of reach is housing in California, and more specifically, the five counties represented by SCANPH? Let’s see.
$11.00 – Minimum Wage
$21.50 – Average Renter Wage
$32.68 – Housing Wage for a 2-Bedroom
5,878,380 -> Total Number of Renter Households
46% -> Percentage of Californians who rent
Los Angeles County
• To afford a modest 2-br apartment in LA County, you need to make $31.98/hour
• To afford a modest 2-br apartment in Orange County you need to make $36.08/hour
• To afford a modest 2-br apartment in Riverside County you need to make $22.23/hour #OOR18
San Bernadino County
• To afford a modest 2-br apartment in San Bernadino County you need to make $22.23/hour
• To afford a modest 2-br apartment in Ventura County you need to make $33.44/hour #OOR18