WHAT IT TAKES TO AFFORD HOUSING IN LANCASTER

The generally accepted standard for housing affordability is that a household or family pay no more than 30% of their gross income on housing expenses. The U.S. Department of Housing & Urban Development establishes a "Fair Market Rent" (FMR) for all metropolitan areas in the country.  This FMR includes an allowance for any utility costs paid by the tenant.

·         The 2007 FMR for a 1-bedroom apartment in Lancaster County is
$572 per month

·         The 2007 FMR for a 2-bedroom apartment in Lancaster County is
$704 per month

·         The 2007 FMR for a 3-bedroom apartment in Lancaster County is
$893 per month

To afford these rents, a family would need to earn:

·         $22,880 per year ($11.00 per hour) for a 1-bedroom apartment

·         $28,160 per year ($13.54 per hour) for a 2-bedroom apartment

·         $35,720 per year ($17.17 per hour) for a 3-bedroom apartment

A person earning the minimum wage of $5.15 per hour would need to work:

·           85 hours per week to afford a 1-bedroom apartment

·         105 hours per week to afford a 2-bedroom apartment

·         133 hours per week to afford a 3 bedroom apartment