Housing Affordability Issues affect us ALL… young adults, single adults, families, seniors, and businesses…
Housing costs have increased 3½ times faster than wages since 2000.
A person must earn $23.37 an hour to afford the rent of a modest 2 bedroom apt in CT. This “housing wage” is estimated with a household paying 30% of their income for housing costs. A Connecticut household must earn $48,619 a year to afford a typical 2 bedroom rental.
Young professionals are leaving Connecticut at very high & unacceptable rates… higher than many other states in the country.
Workers are adversely affected with rising costs for housing and transportation… many pay more than 45% of their income for housing and transportation costs.
The labor pool is shrinking and can become unstable. As a result, businesses suffer. This creates economic instability.
Typical occupations of workers in Connecticut that earn less than the state’s average housing wage include:
Below you will find fact sheets that are available to use as handouts for land use policymakers and helpful links to partner websites.
Website: Partnerships for Strong Communities
Website: 2008 Housing Fact Sheets
Website: Market Statistics
The links above with the PDF icons requires Adobe Acrobat Reader to view, and/or print. If you do not have Adobe Reader, please download this free software from the following link: Download Adobe Reader.
The Eastern Connecticut Association of REALTORS®
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