If you're not making $42/hr, you probably can't afford to live in Massachusetts

The Boston Globe reports (PDF: Hard to rent in Mass) that a household income of over $86,000 per year ($41.61/hr) is what you need to rent a two-bedroom apartment in Massachusetts, according to the National Low Income Housing Coalition's annual report on housing affordability. And that's $4 more per hour than last year.The Globe says "The state is a hub for jobs, education and innovation, but living here, especially for renters, costs ever more and is stretching even moderate earners to the limit."Although housing prices have surged, starting before the pandemic but then exacerbated by it, wages have not risen very much at all, which means those earning less will continue to fall further and further behind the higher-wage earners.As all stories about the housing crunch seem to conclude, the answer is to build more housing.

Previous
Previous

AirBnB News: Quincy and homeowners at odds over short-term rentals

Next
Next

Interest rates hold steady for now