A Need for Affordable Housing: Part 2
- on December 14, 2012
Following the October 31 blog showing most low income renters are paying more than 50% of their monthly income on rent (See: A Need for Affordable Housing: Part 1), today's part two post will show the disparity between what the average low income Lawrence renter earns per hour and what they need to earn to afford a two bedroom apartment at the average Fair Market Rental price of $734 per month, in order to pay less than 35% of their monthly income for rent.
A common argument is that rent is higher because Lawrence is a university town. Part Three of the Need for Affordable Housing will be posted soon and it will compare the income gap between the two largest state university towns, Lawrence and Manhattan.