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Finance guidelines say housing should not cost more than 30 percent of household income. But in 2013, thousands of Michigan rental households fall below that standard.
Michigan
Two-bedroom fair market rental: $768
Hourly wages needed to afford two-bedroom fair market rental: $14.77
Mean renter hourly wage: $11.62
Rent affordable at mean wage: $604
Full-time jobs needed at mean renter wage to afford fair market apartment: 1.3
Ann Arbor metropolitan area
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Two-bedroom fair market rental: $901
Hourly wage needed to afford two-bedroom fair market rental: $17.33
Mean renter hourly wage: $12.35
Rent affordable at mean wage: $642
Full-time jobs at mean renter wage to afford fair market apartment: 1.4
Detroit-Warren metropolitan area
Two-bedroom fair market rental: $821
Hourly wage needed to afford two-bedroom fair market apartment: $15.79
Mean renter hourly wage: $13.63
Rent affordable at mean wage: $709
Full-time jobs needed at mean renter wage to afford fair market apartment: 1.2
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Grand Rapids-Wyoming metropolitan area
Two-bedroom fair market rental: $739
Hourly wage needed to afford two-bedroom fair market rental: $14.21
Mean renter hourly wage: $10.76
Rent affordable at mean wage: $559
Full-time jobs needed at mean renter wage to afford fair market apartment: 1.3
Lansing-East Lansing metropolitan area
Two-bedroom fair market rental: $797
Hourly waged needed to afford two-bedroom fair market rental: $15.33
Mean renter hourly wage: $10.15
Rent affordable at mean wage: $528
Full-time jobs at mean renter wage to afford fair market apartment: 1.5
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Flint metropolitan area
Two-bedroom fair market rental $711
Hourly wage needed to afford two-bedroom fair market rental: $13.67
Mean renter hourly wage: $9.80
Rent affordable at mean wage: $510
Full-time jobs needed at mean renter wage to affair fair market apartment: 1.4
Saginaw metropolitan area
Two-bedroom fair market rental: $665
Hourly wage needed to afford two-bedroom fair market rental: $12.79
Mean renter hourly wage: $8.85
Rent affordable at mean wage: $460
Full-time jobs at mean renter wage to afford fair market apartment: 1.4
Source: National Low Income Housing Coalition
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