Report: $21 per hour needed to afford Vermont rent
A Vermonter must work full time and earn more than $21 per hour to be able to afford a typical two-bedroom apartment, according to a new report by a national housing advocacy organization.
The state ranks 13th in the nation for housing costs, according to the annual report by the National Low Income Housing Coalition. The wage needed to afford Vermont housing, $21.13, is up from $20.68 in the same report last year.
In the Burlington metropolitan area, a worker would need an hourly wage of about $26 to afford a market-rate apartment. Affordability is defined as spending no more than 30 percent of income on housing.
“The good news is that we do continue to build affordable housing or purchase and renovate affordable housing," said Erhard Mahnke, coordinator of the Vermont Affordable Housing Coalition, "but the sad fact of the matter is that it’s just not enough.”
