The National Low Income Housing Coalition (NLIHC) will release its annual Out of Reach report at 11 a.m., ET, today. Speakers will release for 2010 the often-cited Housing Wage, which shows, for every state, metropolitan area and county in the country, the hourly wage that an individual must earn to afford a modest market-rate rental home. The report also provides local wage and income data for comparison purposes.
This year’s data, according to NLHC, will highlight the connection between the recession and the deepening gap between the income needed to afford decent housing and the incomes Americans actually earn. While rents continue to hold strong, wages continue to fall. The new data factors in how the recession, labor markets, and the foreclosure crisis have played a role in moving affordable rental housing further out of reach and the fundamental role rental housing can play in the economic recovery.