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  • Income OOR CT Stats 2011

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    Helen Bennett
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    Connecticut housing statistics from 2011 show: 1) The average two-bedroom fair market rent ranged from $951 to $1,811 across regions, requiring an hourly housing wage of $18.29 to $34.83. 2) An estimated 46% to 67% of renters in each region could not afford a two-bedroom apartment at 30% of their income. 3) Fair market rents increased 49% to 77% since 2000, while mean hourly wages for renters declined 0.2% to 15.2% over the prior year.

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    Connecticut housing statistics from 2011 show: 1) The average two-bedroom fair market rent ranged from $951 to $1,811 across regions, requiring an hourly housing wage of $18.29 to $34.83. 2) An estimated 46% to 67% of renters in each region could not afford a two-bedroom apartment at 30% of their income. 3) Fair market rents increased 49% to 77% since 2000, while mean hourly wages for renters declined 0.2% to 15.2% over the prior year.

    Copyright:

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    2K views2 pages

    Income OOR CT Stats 2011

    Uploaded by

    Helen Bennett
    Connecticut housing statistics from 2011 show: 1) The average two-bedroom fair market rent ranged from $951 to $1,811 across regions, requiring an hourly housing wage of $18.29 to $34.83. 2) An estimated 46% to 67% of renters in each region could not afford a two-bedroom apartment at 30% of their income. 3) Fair market rents increased 49% to 77% since 2000, while mean hourly wages for renters declined 0.2% to 15.2% over the prior year.

    Copyright:

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    of 2

    "Out of Reach"

    National Low Income Housing Coalition


    Selected Connecticut Statistics
    April 2011

    Milford - Ansonia -

    Middlesex County

    Non-Metro Areas
    West Hartford -
    East Hartford -

    New London
    New Haven-
    Connecticut

    Colchester -
    Bridgeport

    Combined
    Stamford -

    Waterbury
    Hartford -

    Norwich -

    Southern
    Lebanon

    Danbury

    Seymour

    Norwalk
    Meriden
    State of

    HMFA

    HFMA

    HMFA

    HMFA

    HMFA

    HMFA

    HMFA
    HMFA

    HMFA

    HMFA
    Fair Market Rent for two-bedroom $1,215 $1,291 $1,129 $1,601 $1,113 $1,184 $1,246 $1,007 $1,155 $1,811 $951 $962

    Housing Wage $23.37 $24.83 $21.71 $30.79 $21.40 $22.77 $23.96 $19.37 $22.21 $34.83 $18.29 $18.50
    Income needed to afford a two-
    $48,619 $51,640 $45,160 $64,040 $44,520 $47,360 $49,840 $40,280 $46,200 $72,440 $38,040 $38,487
    bedroom
    # of minimum wage jobs needed to
    2.8 3.0 2.6 3.7 2.6 2.8 2.9 2.3 2.7 4.2 2.2 2.2
    afford two-bedroom
    Work hours/week at minimum wage
    113 120 105 149 104 110 116 94 108 169 89 90
    job to afford two-bedroom
    Mean hourly wage for all renters $15.10 $20.27 $14.93 $20.27 $14.01 $12.20 $12.20 $14.93 $12.48 $20.27 $12.20 $10.18
    % change from last year in mean
    -11.3% -13.2% -0.2% -13.2% -11.6% -10.8% -10.8% -0.2% -15.2% -13.2% -10.6% -5.7%
    hourly wage
    Full-time jobs at mean hourly renters'
    wage needed to afford Fair Market 1.5 1.2 1.5 1.5 1.5 1.9 2.0 1.3 1.8 1.7 1.5 1.8
    Rent for two-bedroom
    Actual rent affordable at mean renters'
    $785 $1,054 $776 $1,054 $729 $634 $634 $776 $649 $1,054 $634 $530
    wage

    Estimated % of renters unable to


    62% 67% 46% 62% 60% 52% 65% 49% 56% 57% 61% 53%
    afford a two-bedroom apartment

    % change from 2000 in Fair Market


    55.0% 70.0% 49.0% 77.0% 49.0% 53.0% 58.0% 50.0% 43.0% 53.0% 55.0% 49.0%
    Rent for two-bedroom
    Notes:
    HMFA = HUD Metro Fair Market Rent Area (see attached chart for list of municipalities in each HMFA)
    Fair Market Rent (FMR) = Fair Market Rents are calculated annually by HUD, generally at the 40th percentile of recently
    available, non-luxury rental units (except Hartford and New Haven regions, set at 50th percentile)
    Housing Wage = The hourly wage needed to afford a 2-bedroom apartment and not pay more than 30% of income
    Minimum Wage = Connecticut’s state minimum wage is $8.25 per hour
    Mean Hourly Wage = The average hourly wage for workers who rent, by region
    Affordable = Assumes that a household spends no more than 30% of total income for housing
    HUD = U.S. Department of Housing and Urban Development
    "Out of Reach"
    National Low Income Housing Coalition
    Selected Connecticut Statistics
    April 2011

    For more information, please see the 2011“Out of Reach” report at: www.nlihc.org/oor2011/

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