The National Low Income Housing Coalition released its 2019 Out of Reach Report in June 2019. The Out of Reach report pulls together national, state, and local data to document the gap between the cost of housing and renters’ wages. It is vital information in understanding the housing and homelessness crisis.
Washington State Data
The data on Washington State—especially in the Greater Seattle Area—is particularly concerning. The minimum wage across Washington State is $12.00 per hour. In the Seattle-Bellevue HMFA (HUD Metro Fair Market Rent Area), 40% of residents are renters. To afford a studio (no bedrooms) apartment in the Seattle-Bellevue HMFA, you would need to earn $27.23 per hour. That’s $15.23 more than the minimum wage.
To make that rent work, you would need to have two or more people sharing the same studio apartment. The amount of rent you can afford to pay at the minimum wage salary (and only paying 30% of your wages for rent) would be $624. Average rent in the Seattle-Bellevue area is $1,557. You would have to work 91 hours a week at minimum wage to afford a studio.
What We Know
This report underlines much of what we as affordable housing providers already know: there is not enough affordable housing in the Greater Seattle Area. People who work here cannot afford to live here. To live here, renters have to maintain a delicate financial balance and compromise their quality of life just so that they can afford to live near their jobs. If they get behind on rent or lose their job (or second job), they lose their housing.
What We Do
Compass Housing Alliance’s permanent affordable housing programs create change every day. We provide housing for people who earn 30% or 50% of the area median income, as well as for Veterans, aging adults, and families. We offer the chance to live near where you work, which lowers transportation costs and gives residents more time to spend with the people they love. Learn more about our affordable housing programs.
No matter your current salary, we can all agree that more affordable housing is needed to make Seattle a more equitable place for the people who live and work here. We’re committed to continuing to build and manage affordable housing in the Greater Seattle Area. Join us by making a gift or contact us to learn more.