"Many Americans struggling with rising rental housing costs"

[Arctic Dave]

WASHINGTON — The gap between the cost of renting a modest apartment and the wages of working families continues to widen, according to a new report from the National Low Income Housing Coalition.

"Out of Reach 2010" paints a gloomy picture for the nation's nearly 38 million renters, who make up a third of U.S. households.

On average, a family must earn $38,355 a year, $18.44 an hour, to afford a simple two-bedroom apartment at the 2010 national average fair market rent of $959.

However, the average wage for U.S. renters is $14.44 an hour, down from $14.69 last year. Further, more than 60 percent of U.S. renters live in counties where even the average one-bedroom fair market rent of $805 isn't affordable for average wage earners, the study found.



Read more: http://www.mcclatchydc.com/2010/04/21/92635/many-americans-struggling-with.html#ixzz0loD0gCyx