U.S. House fails to address the huge shortage of affordable rental housing - Again!
In Illinois, the average rent for a two-bedroom apartment is $977. In order to afford this level of rent and utilities—without paying more than 30% of income on housing—a household must earn at least $39,067 annually. Assuming a 40-hour workweek, 52 weeks per year, this level of income translates into a Housing Wage of $18.78.
In Illinois, a minimum wage worker earns an hourly wage of $8.25. In order to afford the rent for a two-bedroom apartment, a minimum wage earner must work 91 hours per week, 52 weeks per year. Or a household must include 2.3 minimum wage earners working 40 hours per week year-round in order to afford a modest two-bedroom apartment.
As the following table shows, across the state the two-bedroom Housing Wage ranges from $22.52 in the Kendall County metropolitan area to $12.13 in the Macoupin County metropolitan area. The Housing Wage in the Chicago metropolitan area is $21.02.
Housing Wage for 2 Bedroom Apartment by Metropolitan Areas in Illinois
Area | Housing Wage |
Kendall County HMFA | $22.52 |
Chicago-Naperville-Joliet HMFA | $21.02 |
State of Illinois | $18.78 |
Grundy County HMFA | $18.04 |
Kankakee-Bradley MSA | $17.42 |
DeKalb County HMFA | $16.81 |
Champaign-Urbana MSA | $15.31 |
Bloomington-Normal MSA | $14.96 |
Danville MSA | $14.25 |
Bond County HMFA | $14.12 |
Davenport-Moline-Rock Island MSA | $13.65 |
Decatur MSA | $13.19 |
Non-Metro Ares/Rural | $12.52 |
Cape Girardeau-Jackson MSA | $12.23 |
Macoupin County HMFA | $12.13 |
The report, Out of Reach 2015, was jointly released by the National Low Income Housing Coalition (NLIHC), a Washington, D.C.-based research and advocacy organization, and Housing Action Illinois. 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 2015 is released just days after a May 13 vote by House Appropriations Committee on next year’s federal budget for the U.S. Department of Housing and Urban Development (HUD) that fails to address the huge shortage of affordable rental housing.
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