Part Two of A Need for Affordable Housing, posted in December 2012, showed a significant difference between what many Lawrence renters earn and what they would need to earn to afford the 2011 $734 fair market rent or average cost of a two bedroom apartment without spending over 30% of monthly income on housing. The local disparity between wages and housing costs is often attributed to living in a college town. A recent report by the Bureau of Economic Analysis, based on a comparison of 2011 per capita incomes for 366 metro areas, found that not all municipalities share lower per capita incomes traditionally associated with college town economics.
Perhaps the best comparison of college town per capita income "haves" versus per capita "have-nots" would be a contrast of two large state university towns - Manhattan and Lawrence. Manhattan has the 55th best per capita income of the 366 metro areas surveyed. Average 2011 Manhattan income was higher than Lawrence at $43,593, yet the average 2011 fair market cost of a two bedroom apartment was $61 lower at $673. Lawrence had a significantly lower $33,379 per capita income (271 out of 366), but the highest average cost for a two bedroom rental in surveyed Kansas markets (Please refer to the chart below).
Note: The annual update of fair market rental costs for 2013 has recently been released. Douglas County still has the highest cost in Kansas for a 2 bedroom rental - $860/month.
Tenants to Homeowners Inc. presents “Every Home Can Be A Castle,” at the Castle Tea Room - 9/30/12 @ 2pm
On Sunday, September 30, from 2 – 4 pm, Tenants to Homeowners, Inc. will host “Every Home Can Be A Castle,” a silent auction in support of affordable housing. Because Tenants to Homeowners primarily contracts with local subcontractors and businesses when building homes, this auction will emphasize donations from local businesses and artisans. There will be a few high dollar items from corporate or boutique businesses (free limo service from Lawrence First Class Transportation comes to mind) but a wide variety of affordable local items from hometown businesses and artists will be the foundation of the auction. There will also be a raffle donation for the latest generation I-Pad. Raffle participants need not be present to win. A $10 donation is suggested at the door. Donation tickets can be purchased in advance from Tenants to Homeowners or two auction sponsors - KU Credit Union and Cottins Hardware.
Since 1992, Tenants to Homeowners, Inc. (TTH) has provided more than 385 affordable housing units for families with modest incomes. In 2005, TTH adopted a Lawrence Community Housing Trust Program that keeps homes permanently affordable for generations of new buyers. Please celebrate with us September 30 at the Castle Tea Room, as we remember twenty years of accomplishments and prepare for the next twenty years. To read more about Tenants to Homeowners affordable housing accomplishments, please see the August 11, 2012 article by Margie Carr archived at the ljworld.com website:
http://www2.ljworld.com/news/2012/aug... For more information about the auction please contact Tenants to Homeowners at 842-5494 or firstname.lastname@example.org