Housing report

Housing Report: $17.82 per hour required to pay La’s rent.

The average monthly rent for a two-bedroom apartment in Louisiana is $927, according to the National Low-Income Housing Coalition.

The band just came out”Out of reachThe report analyzes rents in all 50 states and highlights the need for affordable housing.

The COVID-19 pandemic and public health orders related to stay-at-home orders have made housing problems even more severe for many low-income families and individuals, the study authors said.

“At the height of the crisis, when it was imperative for everyone to stay home and maintain social distancing, more than 580,000 Americans were homeless in shelters or on the streets,” the report said. . “Millions more were at grave risk of eviction because revenue disruptions shattered their already stretched budgets.”

Despite Pelican State’s ranking in the bottom half of the nation’s most expensive rental states, Louisianans still need to earn $17.82 an hour — 40 hours a week, 52 weeks a year — to meet the income limit often recommended from a third party to live. expenses, the report said.

Rents have been estimated based on fair market value, defined as what a person can expect to pay for a low-cost rental home in a given area.

“In order to pay this level of rent and utilities – without paying more than 30% of their income for housing – a household must earn $3,089 per month or $37,062 per year,” the report states.

Compared to the federal minimum wage of $7.25 an hour, working Louisianans would need two and a half jobs to afford a decent roof over their heads.

New Orleans demands the highest average hourly wage in the state, at $20.40. Vernon Parish, Baton Rouge and Lafayette follow, requiring $17.33 to $19.77 per hour.

Instead of working two and a half full-time jobs at the federal minimum wage, Louisianans would have to work two full-time jobs to pay rent for a room.

According to the U.S. Department of Housing and Urban Development, the 2021 national housing wage for a modest two-bedroom rental is $20.40 per hour. California residents must earn $39.03 an hour, the highest in the country.

“Because the federal minimum wage does not automatically increase with inflation, it is worth much less today than it was worth for decades past. If the minimum wage had risen in step with productivity growth, it would be over $21 per hour in 2021,” the report said.

A federal moratorium on evictions related to COVID-19 is set to end on July 31, which could further complicate matters. Louisiana renters and landlords are encouraged to contact HUD for support programs to alleviate housing-related financial issues.

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