State's High Cost of Living Pushes Rental Housing "Out of Reach" for Most Californians

(from the National Low Income Housing Coalition and Housing California) According to a national report released today by the National Low Income Housing Coalition, the Housing Wage, or the hourly wage a family must earn - working 40 hours a week, 52 weeks a year - to be able to afford rent and utilities for an average, two-bedroom, market-rate apartment, for California is equivalent to $25.52. The report provides the Housing Wage and other data for every state, metropolitan area, combined non-metropolitan area, and county in the United States.

Working at the minimum wage, a family needs 3.2 wage earners working full-time - or one full-time earner working 128 hours per week - to afford a modest two-bedroom apartment. The typical renter in California earns $17.09, which is $8.43 less than the hourly wage needed to afford a modest unit. An estimated 56 percent of renters in California do not earn enough to afford rent and utilities for the average two-bedroom apartment. This year, California is the second most expensive state in the nation for renters.

For information, please visit the National Low Income Housing Coalition website at http://www.nlihc.org/oor/oor2010/?CFID=69654106&CFTOKEN=67428901