$96.8K Income Needed For 2-Bedroom Port Washington Rental: Report

PORT WASHINGTON, NY — A new report found that housing is out-of-reach for many renters on Long Island, and even more so in Port Washington, where rental costs are higher than across the county on average.

The National Low Income Housing Coalition's annual "Out Of Reach" report found that Nassau County residents would have to work at least three jobs at minimum wage to afford renting a two-bedroom home.

The report ranks zip codes by the hourly wage — the "housing wage" — a person would need to earn in order to afford a modest two-bedroom unit without spending more than 30 percent of their income on housing.

The minimum wage in New York is $11.80 — $13 an hour on Long Island — and the Nassau County average renter wage is $15.22. But the average two-bedroom housing wage in the county is $38.31, meaning the typical Nassau resident would have to work 2.5 jobs in order to afford a two-bedroom apartment.

In Nassau County, the fair market rent for a two-bedroom apartment is $1,992 monthly, which means a household must earn $79,680 a year in order to afford a two-bedroom unit.

But rental costs are even higher in Port Washington.

The fair market rent for a two-bedroom apartment in the 11050 ZIP code is $2,420. To afford this level of rent and utilities — without paying more than 30 percent of income on housing — a household must earn $96,800 a year, or roughly $8,066 every month. That translates to a $46.54 housing wage for a two-bedroom unit. The median household income in Port Washington is $122,845, but a worker taking in the county's average renter wage, assuming a 40-hour work week, 52 weeks per year, would garner a yearly income of only $31,657.

Nassau and Suffolk counties ranked as the most expensive areas in the state. Westchester ranked as the second-priciest area, with an average housing wage of $37.98. The minimum wage in Westchester is higher than the state's at $13.

"This year's report affirms that even before the massive economic downturn caused by the coronavirus, housing costs outpaced what many workers could afford," the introduction to the report reads. "For decades, we have had a systemic shortage of affordable housing for people with the lowest incomes, which the COVID-19 crisis is dramatically exacerbating. More than ever, bold policies are needed to address the unaffordability of housing in the U.S."

There were 86,216 renter households in Nassau County from 2014 to 2018, making up 19 percent of households.

Nassau County Rental Affordability: By The Numbers

Number of Households

Nassau County

• Total: 453,768
• Renters: 86,216
• Percent renters: 19 percent

New York (state)

• Total: 7.3 million
• Renters: 3.4 million
• Percent renters: 46 percent

Hourly Wage Needed To Afford Rental

Port Washington

• One-bedroom: $37.88
• Two-bedroom: $46.54

Nassau-Suffolk

• Studio: $24.96
• One-bedroom: $31.23
• Two-bedroom: $38.31
• Three-bedroom: $49.29
• Four-bedroom: $54.96

New York (state)

• Studio: $26.51
• One-bedroom: $28.02
• Two-bedroom: $32.53
• Three-bedroom: $41.27
• Four-bedroom: $44.66

Fair Market Rent

Port Washington

• One-bedroom: $1,970
• Two-bedroom: $2,420

Nassau-Suffolk

• Studio: $1,298
• One-bedroom: $1,624
• Two-bedroom: $1,992
• Three-bedroom: $2,563
• Four-bedroom: $2,858

New York

• Studio: $1,378
• One-bedroom: $1,457
• Two-bedroom: $1,691
• Three-bedroom: $2,146
• Four-bedroom: $2,322

Annual Income Needed To Afford Rental

Port Washington

• One-bedroom: $78,800
• Two-bedroom: $96,800

Nassau-Suffolk

• Studio: $51,920
• One-bedroom: $64,960
• Two-bedroom: $79,680
• Three-bedroom: $102,520
• Four-bedroom: $114,320

New York

• Studio: $55,133
• One-bedroom: $58,283
• Two-bedroom: $67,653
• Three-bedroom: $85,846
• Four-bedroom: $92,888

Renter Wage

Nassau County

• Estimated mean renter wage: $15.22
• Affordable rent at mean renter wage: $792

New York

• Estimated mean renter wage: $25.68
• Affordable rent at mean renter wage: $1,335