Finding an affordable rental home remains out of reach for most low-income workers in Pennsylvania, according to a new report. In fact, most would need to work more than three full-time jobs just to afford a modest, two-bedroom home in the Commonwealth.
Out Of Reach, a new report released by the National Low Income Housing Coalition, looked at data to determine the discrepancy between wages in Pennsylvania and what residents actually need to earn to afford a rental home in the state.
The results are grim. At Pennsylvania's current minimum wage of $7.25 per hour, some of the state's 1.6 million renters would need to work 145 hours per week — or 3.6 full-time jobs — to afford a two-bedroom rental home at the current fair market rate of $1,365.
"This year’s report confirms what housing advocates have known for years: we cannot accept our housing crisis as 'normal,'" the report states. "Instead, we must build a nation where everyone has a quality, accessible home they can afford in a thriving, healthy community."
To afford a modest, two-bedroom apartment at fair market rent in Pennsylvania, full-time workers need to earn $26.26 per hour, the report found [more like $40-$60 per hour for Newtown*]. This is assuming the person spends no more than 30 percent of their income on rent.
Many do not earn that much. According to the report, the average worker in Pennsylvania earns $20.11 per hour, making the Commonwealth the 27th most expensive in the United States for renters.
Some parts of the state are worse than others. In Philadelphia, the fair market rate for a two-bedroom rental home is $1,737. For a minimum wage worker to afford that, they would have to work 4.6 full-time jobs.
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* "Market Rate" apartments in Newtown go for about $2,000 per month for 1-bedroom apartments and $3,000 per month for 2-bedroom apartments (see here). That requires an annual income of about $80,000 to $120,000 (if 30% of income is devoted to rent), which I believe is more than the average worker in the Business Commons makes.
Therefore, creating Overlay Zoning that allows for "Town Center" or "Mixed Use" apartment complexes in the O-LI District - where the Business Commons is located - does NOT, in my opinion, help these businesses, which was the original intent of the Overlay Plan.