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Evansville, Indiana Typical home value: $168,401 Typical rent: $826 2022 unemployment rate: 2.3% Labor force participation rate: 62.3% Median household income: $57,321 Livability score: 58
Although demand for affordable housing, particularly rental housing that is affordable for low and middle income earners, has increased, the supply has not. YIMBYs argue building more housing makes housing more affordable. Potential home buyers are forced to turn to the rental market, which is also under pressure.
Section 8 of the Housing Act of 1937 ( 42 U.S.C. § 1437f ), commonly known as Section 8, provides rental housing assistance to low-income households in the United States by paying private landlords on behalf of these tenants. Approximately 68% of this assistance benefits seniors, children, and individuals with disabilities. [1]
The federal government, through its Low-Income Housing Tax Credit program (which in 2012 paid for construction of 90% of all subsidized rental housing in the US), spends $6 billion per year to finance 50,000 low-income rental units annually, with median costs per unit for new construction (2011–2015) ranging from $126,000 in Texas to $326,000 ...
The report's key figure, the "Housing Wage," reveals the hourly earnings necessary for full-time workers to afford fair market rental homes without exceeding 30% of their incomes. Nationally, the 2023 Housing Wage is $28.58 per hour for a modest two-bedroom home and $23.67 per hour for a one-bedroom home.
San Diego median home price: $783,300 per the Census Bureau. San Diego average rent: $2,271 (one bedroom 648 square feet) “This is 50% higher than the national average rent price of $1,516/month ...
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