9.0. HRSR 10-28-2002 - Laserfiche WebLink

Home Browse Search

• 1E1 September 18th, 2002 HousingMinnesota the.ywonewt9'tk Affordable Housing in Sherburne County What is Affordable Wages at Lower Levels Are Far Below That Needed to Buy or Rent Housing? The following table uses 2000 U.S. Census data on household income to show how Housing is considered much households in Sherburne County can afford to pay for housing. A affordable if it constitutes comparison of Sherburne County incomes to the county's fair market rent of$9121 30%or less of and median home value of$137,5002finds that low-income households cannot household's gross afford the county's housing costs. income. Generally, when households spend Sherburne County Wages more than 30%of their incots, they do not ha e% of Median Household Jobs that pay at this Maximum Maximum enough income to meet Household Income at level4 Affordable Affordable other basic needs or Incomea this level Rents Owns weather financial 30% $23,010 Mail Clerks,Teacher $575 $70,521 setbacks. Assistants Why is There a Problem? 50% $38,350 Special Education $959 $117,535 Housing is not available Teachers, Police Officers el and affordable to 80% $61,360 Lawyers, Electrical $1,534 $188,056 increasing numbers of Engineers Minnesotans. Low- income households and, 100% $76,700 Pharmacists, Education $1,918 $235,070 increasingly,moderate- Administrators income households are affected by home prices Sherburne County Housing Costs and rents that have outpaced inflation and wages. Rental Homeownership ♦ A household would need to earn ♦ A household would need to earn How Can We Solve the $36,480 to afford the fair market $44,864 to afford the median Affordable Housing rent for a two bedroom valued home ($137,500).8 Crisis? apartment ($912/mo).7 Encourage development ♦ The median valued home is out of all types and prices of ♦ Renter households at or below of reach for Sherburne County housing. 30%of the median income will households at or below 50%of struggle to afford the fair market the median income. Invest in housing or rent. housing subsidies to help ♦ Approximately 18%of those who cannot afford ♦ Approximately 32%of renters in homeowners in Sherburne market rate housing. Sherburne County pay over 30% County pay over 30%of their of their household income on household income on housing.10 Strengthen the rights of housing.9 those most at risk of becoming homeless or ♦ A minimum wage worker would facing discrimination due need to work 136 hours per week to the lack of adequate to afford Sherburne County's fair affordable housing. market rent.11 • (Visit www.HousingMinnesota.org for more information on affordable housing issues and solutions.)