Study finds gap in Vermonters’ wages and housing costs

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(Host) A new report says the cost of housing continues to outpace incomes in Vermont. The Vermont Housing Awareness Campaign looked at home prices and wages around the state. The group says home prices rose 36% in the last six years, while rents climbed 25% over the same period.

John Fairbanks is with the housing awareness campaign. He says few people saw their wages rise by 25% in six years:

(Fairbanks) “So there’s a tremendous gap between what it costs to find safe, decent affordable housing in this state and what Vermonters make. If you look at the report, you will see that more than two-thirds of the jobs in this state, including a lot of essential jobs – EMTs, firefighters, child care workers – two-thirds of the jobs in this state pay less than the housing wage of $13.58 an hour. So it’s really tough to find housing.”

(Host) Housing experts say the wage of $13.58 an hour is what’s needed to afford a typical, two-bedroom apartment.

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