Overview of this Year’s Report

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Presentation transcript:

Overview of this Year’s Report Out of Reach answers the question: “How much do you have to earn to afford rent and utilities at fair market rent (FMR)?” National Housing Wage for two-bedroom apartment at FMR is $22.10 and $17.90 for a one-bedroom at FMR. Two-bedroom housing wage ranges from $13.84 in Arkansas to $36.13 in Hawaii. At Federal minimum wage, one has to work 122 hours/week to afford a two-bedroom apartment at FMR and 99 hours/week to afford a one-bedroom apartment at FMR.

OOR Website (www.nlihc.org/oor) Out of Reach Report Page Out of Reach State Page

Review by Zip Code

Missouri Data

County-by-County Breakdown

Zip Code Level Data

Frequently Asked Questions Question Why is the Fair Market Rent lower than the median rent I see in other reports? Why does it seem so hard to find apartments online that rent at or below the Fair Market Rent in my area? Answer Fair Market Rent does not represent the median rent. It typically represents the 40th percentile of rents. Rental listings on popular real estate websites tend to skew toward higher cost apartments, or rental homes. A median rent calculated from these listings tend to be higher than median rent calculated from a representative sample of all rentals in a housing market.

Policy Updates Rent reform proposals Work requirements Urgent need to push back on Representative Ross’s proposed bill Secretary Carson backing away from doing rent reform in the budget Work requirements House version of Farm Bill institutes work requirements for recipients of SNAP benefits Fostering Stable Housing Opportunities Act Disaster Housing Assistance Program S. 2880 and S. 2066 need support in the Senate