Affordable Housing, Community Development, Reports and Publications

CT Metros Among Top 50 Most Expensive for Renters

Center for Housing Policy, National Housing Conference
 

All four of the metropolitan areas in Connecticut rank among the top 50 most expensive for rental housing out of the 207 metropolitan areas in the nation. According to the most recent Paycheck to Paycheck report from the Center for Housing Policy, the nationwide fair market rent (FMR) for a 2-bedroom apartment is $977. The report pulls data from the first quarter of 2013 to reveal the gap between wages and the costs of housing, both rental and owned, in 207 U.S. metro areas.

Data for this report comes from the National Association of Home Builders Housing Opportunity Index, the National Low Income Housing Coalition and Salary.com.

In Connecticut, New Haven is the highest on the list as the 19th most expensive for renting a 2 bedroom with a FMR of $1,316. Next on the list is Bridgeport at 25 with a FRM of $1,230. Hartford has the 43rd spot with $1,101 and Norwich is number 46 with $1,088. 

This year, CHP took a special look at travel and tourism workers and found those in the travel and tourism industry cannot reasonably afford a 2-bedroom apartment in any metropolitan area. It looked at 5 occupations within the industry, front desk manager, flight attendant, auto mechanic, housekeeper, and wait staff.

Housekeepers and wait staff cannot afford a median priced home in any of the four metropolitan areas in Connecticut where they make under $30,000.Front desk mangers, flight attendants and auto mechanics all make enough to afford a home in the New Haven, Hartford, and Norwich areas.

In the Bridgeport area, where the 2013 median price of a home is $301,000, none of the 5 travel and tourism occupations make the $79,864 that would be necessary to afford a home there.

Access Paycheck to Paycheck 2013.
Read Paycheck to Paycheck for travel and tourism workers.
 

 
 

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