Affordable Housing is Out of Reach and Getting More Expensive for Low-Wage Hoosiers
In order to afford a modest, two-bedroom apartment at fair market rent in Indiana in 2022, full-time workers need to earn $16.97 per hour, up from $16.57 a year ago. This is Indiana’s 2022 Housing Wage, revealed in a national report published today.
The report, Out of Reach, is jointly released by the National Low Income Housing Coalition (NLIHC), a research and advocacy organization dedicated to achieving affordable and decent homes for people with the lowest incomes, and Prosperity Indiana, the statewide association for community economic development.
This year, the Out of Reach report is being released amid record-high inflation and rising rental costs. These rent increases are affecting tenants nationwide, with median rents for two-bedroom apartments increasing nearly 18% between the first quarter of 2021 and the first quarter of 2022. At the same time, costs for necessities like food and transportation have also skyrocketed, leaving low-income renters with increasingly tighter budgets. With inflation breaking a 40-year record in 2022, many renters have had to make difficult decisions about their budget, sacrificing childcare, medical care, and food to maintain housing.