How high is rent in six Michigan cities?

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

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

 

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

 

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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