News

Squeeze: High rents, low wages

(Category: Housing Wages. Added/edited: Apr 29, 2010.)

By Lisa McCormack

Source: StoweToday, April 29, 2010

"Even in an economic downturn, when rents could normally be expected to decline, decent affordable housing has remained out of reach for many Vermonters, including low and moderate-income workers in Lamoille and Washington counties.

Vermonters pay, on average, the 15th-highest rents in the nation, according to a new report from the National Low-Income Housing Coalition, a Washington, D.C.-based group, and the Vermont Affordable Housing Coalition.

The report, Out of Reach 2010, provides housing affordability data for every state, metropolitan area and county in the country.

Vermont’s rental housing market has been among the nation’s tightest for several years. The state’s rental vacancy rate has been running at 3.5 percent. A stable, healthy rental market will have a vacancy rate of at least 5 percent, say experts in affordable housing..."

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