Revised Out of Reach 2013 information for Vermont

The NLIHC recently revised the Out of Reach – Vermont information to reflect increases in Vermont’s statewide Fair Market Rent (FMR) and Housing Wage. The report, originally issued in March, highlights the need for more affordable housing across the country. The updates show an increase in the FMR for a two-bedroom apartment from $964 to $1,054. This means a household working 40 hours a week would have to earn $20.27/hr in order to make their housing affordable. This is the first time ever that the state’s Housing Wage has gone over $20/hr and results in a $466 gap between what a mean renter, earning $11.32/hr, can afford and the FMR. The NLIHC issued the changes because of HUD’s increase to the FMR for the Burlington-South Burlington Metropolitan Statistical Area (MSA). Link to PDF of Out of Reach Vermont 2013

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