Do You Make $19.76 An Hour!?

Article from:
http://afsc.org/story/tough-times-get-worse-nh-renters

Tough Times Get Worse for NH Renters

NH’s high cost of rental housing highlighted in 2011 housing affordability report

According to a national report released this month, the "housing wage" for New Hampshire renters has increased to $19.76/hr. The Housing Wage is the hourly wage a family must earn – working 40 hours a week, 52 weeks a year – to be able to afford the rent and utilities for a modest home. NH’s Housing Wage has increased 48% since 2000.

“This is especially troubling since it’s happening just after Congress decreased HUD funding by almost 6.5 percent for FY11 and at the same time that deep cuts are on the table for the FY12 federal budget,” said Elissa Margolin of Housing Action NH, a coalition that includes AFSC. “We need NH’s Congressional delegation to recognize the extreme importance of federal rental assistance to the stability of thousands of families in New Hampshire.”

The report, Out of Reach 2011, was jointly released by the National Low Income Housing Coalition and Housing Action NH. The report provides the Housing Wage and other housing affordability data for every state in the country.

About 27 percent of all New Hampshire households are renters. Federal rental assistance programs enable 22,320 low income NH households to rent modest housing at an affordable cost. About 74 percent of these households are headed by people who are elderly or have disabilities; approximately 19 percent are families with children.

“In addition to the high housing wage, a growing number of households in New Hampshire -- 29,317 households -- are paying more than half of their monthly cash income towards housing costs,” added Margolin. “When housing costs consume more than half of a low income family’s income, that family faces a high risk of becoming homeless.”

While costs of rental housing have increased, incomes have decreased. The typical renter in the Granite State earns $12.61, which is $7.15 less than the hourly wage needed to afford a modest unit. Cuts to federal rental assistance programs, such as supportive housing for the elderly and for people with disabilities, will widen the gap, creating unstable housing situations for many Granite Staters.

For regional, metro area and county data, go to http://housingactionnh.org/wp-content/uploads/2011/05/nh2011oordata.pdf