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Don t miss the big stories. Like us on Facebook. Vermont households earning the stateâs minimum wage of $11.25 an hour have to work 64 hours a week to spend 30 percent of their income on a one-bedroom apartment, and 81 hours a week for a two-bedroom unit, according to a housing study released Wednesday morning. The report said that Vermont has the 16th most expensive housing wage in the nation, and the eighth most expensive housing wage for rural areas. According to the study, the average housing wage the money that a Vermont household would have to earn to spend 30 percent of its income on housing for the average fair market rent of $1,231 on a two-bedroom apartment is $23.68 per hour. That equates to $4,105 in monthly income, or $49,258 annually. ....
Freddie Mac, Fannie Mae remain committed to providing financing for lower income apartments. Pat Jackson | May 17, 2021 Housing affordability continues to be a major crisis across the United States. For many, homeownership falls outside of reach as prices soar in key markets and construction costs make it difficult for builders to turn a profit on starter homes. The result is many would-be first-time homebuyers pushed into the rental market, another place where supply and demand dynamics pose critical problems. Despite the challenges many Americans face finding quality housing options, the situation offers multifamily property owners a key investment opportunity, specifically with existing rental units in the affordable and workforce arena where long-term demand is all but assured. ....