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by kemitche
2560 days ago
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Neither the title nor the article use the word "median" - they appear to be using the concept of "Fair Market Rents" (FMR), which is a 40th percentile[1] of non-sub-standard units. The article calls out that even the _average_ wage earner can't afford an FMR unit in many states: > For a two-bedroom rental, the Housing Wage is $22.96—a figure that’s higher than average renters’ wages everywhere, and at least $5.00 higher than the average wage for renters in 16 states. For a one-bedroom rental, the Housing Wage is $18.65. [1] https://www.huduser.gov/Periodicals/ushmc/winter98/summary-2... |
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FMR is a close to median value. From the linked definition: "The FMR is the 40th percentile of gross rents for typical, non-substandard rental units occupied by recent movers in a local housing market"
Additionally, FMR is itself statewide average, covering both high and low cost of living areas. Low cost of living counties have units available for far below FMR values.
Low end housing in low cost of living areas can be found for under $377/mo - their estimate of affordable minimum wage rent.