Monday, April 20, 2009

How Much Do You Need to Make to Afford Housing In NC?

According to the National Low Income Housing Coalition, $13.33 per hour to afford rent and utilities. More than 44 percent of renters in North Carolina can’t afford a two-bedroom apartment at fair market rent, according to the study. The federal Department of Housing and Urban Development reports a two-bedroom apartment in North Carolina rents for an average of $693.

Chris Estes is the Executive Director of North Carolina Housing Coalition. He says, "We already had an affordable rental crisis prior to the recession and foreclosure increases. The current economic situation has worsened housing affordability because more and more families are moving backwards economically.”

The NC Housing Coalition has been working with the General Assembly to provide affordable housing via a Housing Trust Fund. The fund was given $15.5 million which was used to create 1,260 apartments and houses last year. Unfortunately, this will likely be cut out of this year's budget.
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