Out of Reach: Congress Must Invest in Expanding Housing Solutions for the Lowest Income Households
The National Low Income Housing Coalition’s Out of Reach 2018 report revealed that the current wage that a renter in NJ would need to earn to afford a two-bedroom apartment is $28.17/hour. This means a full time worker must earn this wage in order to afford a rental home in New Jersey without spending more than 30% of their income.
New Jersey is the 6th most expensive state in the U.S. to rent a home. New Jersey also has the 4th biggest shortfall between average renter wage and two-bedroom housing wage.
Thirty-six percent of New Jerseyans are renters which exacerbates the state’s housing crisis.
New Jersey’s two-bedroom housing wage is higher than the national average at $22.10/hour.
In contrast, the minimum wage is only $8.60/hour.
The National Low Income Housing Coalition (NLIHC) released its 2018 Out of Reach Report on June 13, 2018. “The housing crisis has reached historic heights, most negatively impacting the lowest income renters” said Diane Yentel, President and CEO of the National Low Income Housing Coalition.
“The struggle to afford modest rental homes is not limited to minimum wage workers; 7 out of 10 of the jobs projected for the greatest growth over the next decade have wages lower that the one-bedroom Housing Wage. Too often, a low wage worker must choose between paying for rent, healthcare, childcare, and other basic necessities. The Administration’s cruel and shortsighted proposals to cut housing benefits would add to the struggles of millions. Rather than threatening the housing stability of families struggling to keep roofs over their heads, Congress must invest in expanding housing solutions that provide stable homes for the lowest income people in our country.”
Although the report shows gaps in housing all around the country, the issues in New Jersey are especially prominent. If you are passionate about solving the housing crisis and ending homelessness in New Jersey, you should join us at our 2018 Congressional Reception on July 25.
On July 25th, a Congressional Reception will be held at the Dirksen Senate Auditorium in Washington D.C. This event will allow New Jersey Residents who are working poor, below the poverty line and or impacted by homelessness to urge their elected officials in Washington to make No Cuts to Housing and remind them that Opportunity Starts at Home.
Out of Reach 2018 reports that New Jersey workers renting a two-bedroom apartment must spend 131 hours per week at minimum-wage pay or an annual salary of $58,603.
New Jersey’s most expensive areas to live include include:
NLIHC creates its annual Out of Reach Report to reveal the shortage of homes that are affordable in the United States. This information is used to make the case to legislators and advocate for decent housing that everyone can afford. In New Jersey, Out of Reach was jointly released with the Housing and Community Development Network of NJ (HCDNNJ.)