Report: Affordable housing is out of reach in Missouri for low-wage workers

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- Total housing units: 11,283,892

--- Occupied housing units: 9,985,126 (61.9% owner-occupied, 38.1% renter-occupied)

--- Vacant housing units: 1,298,766 (1.5% homeowner vacancy rate, 8.1% rental vacancy rate)

- Median rooms per house: 5.3

- Bedrooms: 2.3% no bedrooms, 12.9% one bedroom, 22.1% two bedrooms, 40.2% three bedrooms, 18.6% four bedrooms, 3.8% five bedrooms

- Average household size: 2.8

- Median gross rent: $1,091

- Median homeowner cost: $1,675 (with mortgage), $527 (without mortgage)

- Average days homes are on the market: 73 (238,334 homes currently)

- Current median listing price of homes in Texas: $247,990 (4.3% less than 2020, 4.0% greater than 2019)

Economic uncertainty may pose a threat to the glowing real estate picture currently seen in Texas. Experts report a leveling-off of sales between October and November 2020 but steady demand for affordable homes in the region. If construction projects can keep up with demand, 2021 may prove to be just as strong as the fall of 2020.

Houses

JEFFERSON CITY, Mo. – A new national report finds affordable house in the state of Missouri is out of reach for low income workers. In order to afford a modest, two-bedroom apartment at fair market rent in Missouri, full-time workers need to earn $16.66 per hour.

The report, Out of Reach, was jointly released by the National Low Income Housing Coalition (NLIHC), a research and advocacy organization dedicated solely to achieving affordable and decent homes for people with the lowest incomes, and Empower Missouri.

This year’s report comes amidst the pandemic which created an economic crisis that pushed millions of low-wage workers out of work. Prior to the pandemic, more than 7.6 million extremely low-income renters were already spending more than half of their limited incomes on housing costs, sacrificing other necessities to do so. After a year of job losses, furloughs, and limited hours, many of these households will be even worse off.

Across the country, a renter needs to earn $24.90 per hour to afford a modest two-bedroom rental home without spending more than 30% of their income on housing costs, or $20.40 per hour to afford a one-bedroom home.

While the Housing Wage varies by state and metropolitan area, officials say low-wage workers everywhere struggle to afford their housing.

“Missourians are hard working and dedicated. During the global pandemic, our lowest wage workers have taken the brunt of the economic toll. This report demonstrates that these same families already were at a disadvantage by being unable to secure affordable housing after working a full time job. Our neighbors deserve better,” Empower Missouri’s Policy and Advocacy Director Sarah Owsley said.