20 April 2009

"the National Low Income Housing Coalition is dedicated solely to achieving socially just public policy that assures people with the lowest incomes in the United States have affordable and decent homes."

from the NLIHC's Out of Reach 2009 report- SC selected:

"In South Carolina, the Fair Market Rent (FMR) for a two-bedroom apartment is $675. In order to afford this level of rent and utilities, without paying more than 30% of income on housing, a household must earn $2,249 monthly or $26,992 annually. Assuming a 40-hour work week, 52 weeks per year, this level of income translates into a Housing Wage of $12.98. In South Carolina, a minimum wage worker earns an hourly wage of $6.55. In order to afford the FMR for a two-bedroom apartment, a minimum wage earner must work 79 hours per week, 52 weeks per year. Or, a household must include 2.0 minimum wage earner(s) working 40 hours per week year-round in order to make the two bedroom FMR affordable. In South Carolina, the estimated mean (average) wage for a renter is $11.07 an hour. In order to afford the FMR for a two-bedroom apartment at this wage, a renter must work 47 hours per week, 52 weeks per year. Or, working 40 hours per week year-round, a household must include 1.2 worker(s) earning the mean renter wage in order to make the two-bedroom FMR affordable.
Monthly Supplemental Security Income (SSI) payments for an individual are $674 in South Carolina. If SSI represents an individual's sole source of income, $202 in monthly rent is affordable, while the FMR for a one-bedroom is $593.
A unit is considered affordable if it costs no more than 30% of the renter's income. "

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