WILMINGTON, NC (WECT) – According to a report by the National Low Income Housing Coalition and the North Carolina Housing Coalition, renters in Wilmington need to earn $15.73 per hour in order to afford a basic apartment.
The report, "Out of Reach 2014" provides the Housing Wage and other housing affordability data for every state, metropolitan area, combined metropolitan area, and county in the country.
The Housing Wage is the hourly wage a family must earn, working 40 hours a week, 52 weeks a year, to be able to afford the rent and utilities for a safe and modest home in the private housing market.
The typical renter in Wilmington earns $10.92 per hour, which is $4.81 less than the hourly wage needed to afford a modest unit.
An estimated 53% of renters in Wilmington do not earn enough to afford a two-bedroom unit at the Fair Market Rent.
Additional Facts about the Wilmington Area:
Additional Facts about North Carolina:
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