Housing Matters

1 day ago

The 2022 "Out of Reach" report from the National Low Income Housing Coalition (NLIHC) was published last week. For over thirty years, the report has shed light on the need for increased housing across the board in America.

The need has only gotten worse with stagnant minimum wages and rising rental costs. This years report was particularly shocking, as the Santa Cruz-Watsonville Metro Area is now the second most expensive metro area in the country, trailing only a dollar and fifteen cents behind our neighbors to the north in San Francisco.

Although COVID eviction moratoriums temporarily eased financial burdens for low-income renters, according to the report, "eviction rates in some cities are increasing to or surpassing their pre-pandemic levels. At the same time, renters nationwide are facing exorbitant rent increases, with the median rent of a two-bedroom apartment increasing nearly 18% between the first quarter of 2021 and the first quarter of 2022."

The report takes into account federal minimum wage ($7.25/hour) and a figure known as the "housing wage" ($25.82/hour for a modest two bedroom house) to paint a picture of the financial insufficiency present in our housing market. Scroll through to learn more about the terminology and figures that help the report paint honest portrayal of the housing crisis in America. And click the link in our bio to read the report in its entirety. ... See MoreSee Less

+1

Housing Matters

1 day ago

The 2022 "Out of Reach" report from the National Low Income Housing Coalition (NLIHC) was published last week. For over thirty years, the report has shed light on the need for increased housing across the board in America.

The need has only gotten worse with stagnant minimum wages and rising rental costs. This years report was particularly shocking, as the Santa Cruz-Watsonville Metro Area is now the second most expensive metro area in the country, trailing only a dollar and fifteen cents behind our neighbors to the north in San Francisco.

Although COVID eviction moratoriums temporarily eased financial burdens for low-income renters, according to the report, "eviction rates in some cities are increasing to or surpassing their pre-pandemic levels. At the same time, renters nationwide are facing exorbitant rent increases, with the median rent of a two-bedroom apartment increasing nearly 18% between the first quarter of 2021 and the first quarter of 2022."

The report takes into account federal minimum wage ($7.25/hour) and a figure known as the "housing wage" ($25.82/hour for a modest two bedroom house) to paint a picture of the financial insufficiency present in our housing market. Scroll through to learn more about the terminology and figures that help the report paint honest portrayal of the housing crisis in America. And click the link below to read the report in its entirety.

nlihc.org/sites/default/files/2022_OOR.pdf ... See MoreSee Less

+1