Homes for Rent Getting More Difficult to Handle
According to reports released recently, an average renter in Lancaster County has to work for an average of 49 hours a week for them to be able to afford a two-bedroom apartment. Amid the many homeowners who have been voicing out their opinions about the recent slump in the housing industry, a lot of renters are also hit hard by the economic recession.
According to Bob Thomas, president of Tabor Community Services, there has been a big gap between what is available in the housing industry and the demand for it. Tabor Community Services is a nonprofit financial and housing counseling association. Thomas further adds that the association is seeing a heavy demand for assistance for renters. Prices of homes for rent are even seen to increase as then homeowners are now also looking for homes for rent, increasing the demand for houses for rent and the competition among renters.
The federal government now considers a house for rent or sale as affordable if it is prices 30 percent lower than a person’s income. This is called the housing wage. According to a report released by the
National Low Income Housing Coalition, the median income of a typical household in Pennsylvania was $13.40 per hour. This is $2 short of the minimum amount needed to get a modest house for rent. At this level, a lot of workers in the area cannot afford a two-bedroom house for rent.
According to Liz Hersh from the National Low Income Housing Coalition, it is becoming more difficult to get a house in Pennsylvania. Those who are most affected are low-wage families, disabled people and senior citizens who live with fixed income. For the study that it conducted it employed several data to compare wages against the average rents around the country. Based on results, the average two-bedroom house or apartment home rentals cost $928 a month. With the average wage of $14.69, a person has to work for 49 hours a week for them to be able to afford renting such an expensive home.
Pennsylvania currently has the lowest rates for homes for rent. Among the areas with high rent are California and Hawaii. In the area of Lancaster County, the problem of rent is getting more evident as the economic crisis worsens and the people continue to feel its impact.
