Housing Becoming More Expensive

MarketPlace.org informs MHProNews Eric Belsky, managing director of the Joint Center for Housing Studies at Harvard University, says in 2010 more than 25 percent of renter households paid over 50 percent of their income for rent, an increase from 20 percent in 2000, putting more people at the risk of homelessness. A study by the National Low Income Housing Coalition estimates employees need to earn $18.79 an hour for rent to remain at 30 percent or less of income, but the average hourly wage is $14.32. Belsky says this often translates into insufficient money for food, healthcare, and other expenses, limiting the economic impact on the local community.

(Photo credit: zimbio)


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