Report: Rising Rents Pricing County Residents Out of Market

RIVERSIDE (CNS) - The average family trying to rent a two-bedroom apartment in Riverside County must generally have two wage earners working full- time to afford the place, according to a report released today.

The National Low Income Housing Coalition, Housing California and the California Housing Consortium jointly published "Out of Reach 2016," which analyzes counties throughout the country to identify affordable housing needs.

The report found that Riverside County's rents have outpaced income growth among a large segment of the regional population, making a "modest" two-bedroom apartment impossible to afford unless there are 2.3 wage earners, working a minimum of 40 hours a week, 52 weeks a year.

"From 2000 to 2013, while rents in Riverside County have skyrocketed 31 percent, renter household income has dropped 3.5 percent," said Shamus Roller, executive director of Housing California. "Things can't continue this way. People are not just falling into poverty, California's out-of-control rents are keeping them trapped there.

"When housing costs are considered, Riverside County's poverty rate is a whopping 21.2 percent. That's more than one-fifth of the county living in poverty. It's time for Gov. Jerry Brown and the state Legislature to make bold investments in affordable development. It is undeniably a key part of the solution to California's housing crisis."

According to the report, the average renter earns $11.95 per hour, but a person needs to earn $22.83 an hour just to qualify for a typical two-bedroom rental, which researchers said costs about $1,187 a month.

Rents can vary widely in the county, depending on location.

"As families struggle to keep up with soaring rents, our state has gone in the wrong direction -- reducing investment in building homes families can afford by 79% since 2008 and turning away billions in federal funds," said Ray Pearl, executive director of the California Housing Consortium.

"Each year California delays in meeting the rising demand for affordable homes, more families are pushed into poverty. The governor and the Legislature must make this the year we change direction and get California building again."

The full report is available here: http://www.nlihc.org/oor/california.

— By City News Service. Image via Shutterstock.