Rents are Rising Steadily
The US
Department of Housing and Urban Development considers housing “affordable”
when residents pay no more than 30% of their income on housing costs.
Thirty-eight percent of all renter households in Albany County have
housing costs that exceed this definition of “affordable.” That's 19,269
households who can't afford their rent!
The current HUD "fair market rent" for a 3-bedroom apartment in Albany
County is $1,019 per month and rising.
Source:
http://www.huduser.org/datasets/fmr.html
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