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Friday, May 06, 2011

National Report: New Mexico Renters Still Waiting for Recovery

According to a national report released this week, the Housing Wage for New Mexico is $13.74. The Housing Wage is the hourly wage a family must earn –- working 40 hours a week, 52 weeks a year –- to be able to afford the rent and utilities for a safe and modest home in the private housing market. New Mexico’s Housing Wage has increased 33% since 2000.

The report, Out of Reach 2011, was jointly released by the National Low Income Housing Coalition (NLIHC), a Washington, D.C.-based housing policy organization, and the New Mexico Coalition to End Homelessness. The report provides the Housing Wage and other housing affordability data for every state, metropolitan area, combined non metropolitan area, and county in the country.

“Out of Reach shows that across our state thousands of hard-working New Mexican families struggle to find and afford safe, quality housing, said Lisa Huval, policy and advocacy director for the New Mexico Coalition to End Homelessness. “As we work to rebuild our economy, we must remember that our families need a safe, stable place to call home in order to be economically secure.”

Working at the minimum wage in New Mexico, a family must have 1.8 wage earners working full-time -– or one full-time earner working 73 hours per week – -to afford a modest two-bedroom apartment.  An estimated 50% of renters in New Mexico do not earn enough to afford a two-bedroom unit at the Fair Market Rent.

This year, New Mexico is the 21st most expensive state in the nation for renters. The National Housing Wage is $18.46 in 2011.

May 6, 2011 at 09:28 AM in Economy, Populism, Housing | Permalink

Comments

These numbers are ludicrous. Does the housing wage include food and clothing and transportation to work, child care? Our corporate culture does not provide for being human much less living like human beings.
Most jobs in NM don't pay 13.74 an hour.

Posted by: qofdisks | May 7, 2011 10:38:45 AM