A modest, two-bedroom apartment costs $1,099, according to the annual Out of Reach report from the National Low-Income Housing Coalition. In order to afford this level of rent and utilities — without paying more than 30% of income on housing — a household must earn an hourly “housing wage” of $21.13—far more than Vermont’s minimum wage of $9.60 or the average wage among the state’s renters ($11.79).
“This report shows exactly how hard it is for ordinary working Vermonters, for seniors, for people with disabilities and others living on fixed incomes to afford safe, stable housing,” said Erhard Mahnke, the Vermont Affordable Housing Coalition Coordinator. “Vermonters have to earn more than twice the minimum wage for something that should be considered a basic human right, leaving them with little left over for other basic needs and just a step away from homelessness.”
Wondering how things look in your own community? Check out the Vermont Housing Data web site which was recently updated to include 2016 housing wage information.