Renting in Fairfield County? You’ll need to earn $30 to $50 per hour to afford most apartments

Renting in the Stamford-Norwalk metropolitan area requires the highest hourly wage in the state to afford a two-bedroom unit: $50.54, according to the 2024 Out of Reach Report from the coalition, a Washington, D.C.-based nonprofit organization that advocates for affordable housing for everyone.

The report describes what wage earners need across Connecticut to afford fair market rentals ranging from studios to four-bedroom units. The metropolitan areas are defined by the U.S. Department of Housing and Urban Development. The National Low Income Housing Coalition compiles these regions and housing cost data to compile its Out of Reach Report each year.

The housing wage is what it costs to rent a fair market two-bedroom unit in any given area — though experts and renters agree that even this number can be conservative because affordable rentals are not as prevalent as higher-cost units.

Read more at https://www.thehour.com/news/article/norwalk-rent-earn-apartments-wage-fairfield-county-19728752.php