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Tuesday, July 23, 2024

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Gov. Whitmer endorses Kamala Harris for president, says she's not leaving Michigan; Grilled by lawmakers on the Trump assassination attempt, Secret Service director says, 'We failed;' Teachers rally at national convention in Houston; Opioid settlement fund fuels anti-addiction battle in Indiana; Nonprofit agency says corporate donations keep programs going.

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Kamala Harris rapidly picks up Democratic Support - including vast majority of state party leaders; National rent-cap proposal could benefit NY renters; Carter's adoption support: Empowering families, strengthening workplaces.

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It's grass-cutting season and with it, rural lawn mower races, Montana's drive-thru blood project is easing shortages, rural Americans spend more on food when transportation costs are tallied, and a lack of good childcare is thwarting rural business owners.

Report: MD 'housing wage' 9th highest in U.S.

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Tuesday, July 23, 2024   

With rising housing costs an ongoing issue, a new report shows how fast rents have increased in Maryland and nationwide.

The National Low Income Housing Coalition's "Out of Reach" report shows that, even when accounting for higher state- and county-level minimum wages, the average minimum-wage worker in the United States would have to work 95 hours a week to afford a one-bedroom rental home.

Diane Yentel, coalition president and CEO, noted renters with the lowest incomes have faced a long-standing trend of rents rising faster than wages.

"Between 2001 and 2021, rents increased about 18%," she explained, "while household income only increased by about 3%."

In Maryland, the report found the fair market rent for a two-bedroom apartment is more than $1,900 a month, which translates to a Housing Wage of nearly $37 an hour, the ninth-highest in the nation.

The coalition said affordable rental housing isn't likely to be built without public subsidies. The availability of affordable housing is constrained in part by the high development and operating cost of new rental housing, resulting in market forces that drive developers to target higher-end customers.

The report shows the median monthly rent for new multifamily units in the third quarter of last year was more than $1,800 a month, while just 2% of new units had rents less than $850 per month.

As supply constraints drive costs higher, Yentel predicted the nation's housing crisis will worsen.

"Increased rents are resulting in increased homelessness," she insisted. "The U.S. Government Accountability Office has found that a $100 increase in median monthly rent is associated with a 9% increase in homelessness in that community."

For its part, the federal government's ability to build new housing has been limited since 1999, when the Faircloth Amendment capped the number of public housing units that can be legally owned by the U.S. Department of Housing and Urban Development (HUD).




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