Out of Reach documents the gap between renters’ wages and the cost of rental housing. The report’s Housing Wage is the hourly wage a full-time worker must earn to afford a modest rental home without spending more than 30% of his or her income on housing costs. It is based on HUD’s Fair Market Rent (FMR), which is an estimate of what a family moving today can expect to pay for a modest rental home in the area.
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