Housing - Wage & Avg Renter Income

2012 Housing Wage and Average Renter Income

The Housing Wage is the full-time hourly wage needed in order to pay no more than 30% of your income for housing costs on what HUD estimates to be the Fair Market Rent. 2012 Fair Market Rent has decreased by 8% compared to 2011.

The “housing wage” in Pierce County for a two-bedroom apartment is $17.87 per hour or $37,160 per year. It is estimated by the National Low-income Housing Coalition that 50% of renters, almost 53,000 households, are unable to afford a two-bedroom apartment.
The average income for renters in Pierce County is estimated to be $12.29 per hour, well below the hourly wage necessary to afford a two bedroom apartment, and $2.06 less an hour than what would be needed to rent a one bedroom apartment.

Source: National Low Income Housing Coalition Out of Reach Accessed 10/2007;
Source: US Census Bureau 2006 American Community Survey Pierce County, Washington Selected Social Characteristics in the United States: 2006; Data Set: 2006 American Community Survey; Survey: 2006 American Community Survey;
Source: Washington Employment Security Department Vacancies Report 2007 8252_WDA_Report_Wave_10

Source: National Low Income Housing Coalition Out of Reach Accessed 10/2007;
Source: US Census Bureau 2006 American Community Survey Pierce County, Washington Selected Social Characteristics in the United States: 2006; Data Set: 2006 American Community Survey; Survey: 2006 American Community Survey;
Source: Washington State Employment Security Department, Labor and Economic Analysis Branch