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New report ranks Conn. 9th for high rental housing costs

A report from the National Low Income Housing Coalition has ranked Connecticut as the 9th highest for how much money is needed in order to afford rent. The Out of Reach report about the average fair-market rent shows that a minimum wage employee would need work 79 hours a week in order to afford a one-bedroom.  In the Danbury area, the report pegs that number at 97 hours a week.
 
Without spending more than 30-percent of income on housing, a Connecticut resident would need to earn $41,600  a year to afford a one-bedroom rental.  But that is the statewide average, a worker would have to earn significantly more in the Danbury Labor Market Area.  In order to earn enough to pay for a one bedroom in the Danbury area, someone would have to be making $51,200, or $24.65 an hour.
 
According to the report, the fair market rent average for the state on a two-bedroom apartment is $1,295 dollars.  The average in the Danbury area is little more than $1,600.

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