Out of Reach - Housing Affordability in DE
The National Low Income Housing Coalition recently released its 2020 Out of Reach report. This report highlights that affordable housing is out of reach for many in Delaware.
Here are a few key findings:
Working at Delaware's minimum wage of $9.25, each week you would have to work 95 hours to afford a modest 2 bedroom rental.
The Fair Market Rent for a modest 2 bedroom unit is $1,142 in Delaware.
In order to afford a modest 2 bedroom unit, a renter must earn at least $21.96 per hour.
Delaware's housing wage of $21.96 is the 17th highest in the country.
In Delaware, you need to earn $45,669 annually to afford a modest 2 bedroom unit.
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