COLDWATER, MI, (WTVB) – A new report says the average rent for a two-bedroom apartment in Branch County is $933 per month, which is about $350 less than the statewide average.
The annual report from the National Low Income Housing Coalition on rental costs and wages says a worker would need to earn $17.94 per hour or
$37,320 annually to afford a two-bedroom apartment in the county, even though the current average renter wage is $16.94 per hour.
The study says the average monthly rent for a one-bedroom apartment in Branch County is $776, which equates to an average hourly wage of $14.92 or yearly wage of $26,920 needed.
Michigan renters need to earn nearly $25 an hour to afford the average two-bedroom apartment at $1,272, according to the report, which says wages are not keeping up with housing costs.
The report calculates the hourly wage households need to afford a two-bedroom rental in each state, without spending more than 30% of income on housing. It uses fair market rents determined by the U.S. Department of Housing and Urban Development.
According to the coalition, “Affordable, decent-quality housing remains out of reach for many of the nation’s lowest-income renters. Despite modest economic gains for lower-income households in recent years, the rental housing crisis persists.”
The top ten counties for rent in Michigan are:
Washtenaw County – $1,607
Kent County – $1,443
Livingston County – $1,411
Lapeer County – $1,378
Macomb County – $1,378
Oakland County – $1,378
St. Clair County – $1,378
Wayne County – $1,378
Ottawa County – $1,363
Leelanau County – $1,328
Monroe County – $1,264
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