Re:What you’d need to make in every county in the US to affo...
by mikeash on Tuesday April 22, 2014 @04:18PM
(#7630145)
They are assuming that you spend 30% of your income on housing, leaving you money for food, transportation, taxes, etc.
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Re:What you’d need to make in every county in the US to affo...
by thyroxo on Tuesday April 22, 2014 @04:21PM
(#7630163)
I wonder if that assumption is fair. Also, do you know where it says that in the article?
Re:What you’d need to make in every county in the US to affo...
by dm2 on Tuesday April 22, 2014 @05:03PM
(#7630433)
This mentions the 30%, they should have mentioned it in the article, it's the standard amount they use every year I think: http://nlihc.org/oor/2014
Also, many places won't let you rent without meeting the 30% of income amount.
Re:What you’d need to make in every county in the US to affo...
by danielweber on Tuesday April 22, 2014 @04:27PM
(#7630206)
In some dense cities, the bulk of the transportation costs are rolled into your housing costs, because you are buying walking distance to a subway.
Re:What you’d need to make in every county in the US to affo...
by mikeash on Tuesday April 22, 2014 @05:15PM
(#7630497)
Yes, it really seems like a variable approach would work better. There's a big difference between spending 30% of your income on housing while living in a rural area and doing so in the middle of Manhattan. I imagine that percentage could go considerably higher in big cities.
Re:What you’d need to make in every county in the US to affo...
by reboog711 on Tuesday April 22, 2014 @04:25PM
(#7630190)
It doesn't say that in the article...
It is an important point that would provide context to a lot of numbers.
Re:What you’d need to make in every county in the US to affo...
by mikeash on Tuesday April 22, 2014 @04:40PM
(#7630292)
Click "wrote about a report", then in that article click "new report", and you'll find this:
"The signature finding of Out of Reach is the annual Housing Wage - the hourly wage a full-time worker must earn to afford a decent two-bedroom rental home at HUD-estimated Fair Market Rent (FMR) while spending no more than 30% of income on housing costs."
It is not at all obvious. I really wish that news articles like this would set aside a section where they explicitly name and link to their sources rather than burying them as hyperlinks in the text.