Here & Now

Fast Facts: The Housing Landscape

Frederica Freyberg:

We continue to follow up on statements candidates have made on our program and provide additional information. This week Paul Soglin and housing.

Marisa Wojcik:

When it comes to the economy, Democratic candidate for governor Paul Soglin recently told “Here and Now” that affordable housing must come first.

Paul Soglin:

Whether you have a job, access to health care, all the other things that are essential for a robust family, if there is no affordable housing, the efforts in these other areas generally fail.

Marisa Wojcik:

So let’s look at the landscape of affordable housing in Wisconsin. A recent report from the National Low Income Housing Coalition looks at what renters pay compared with what they earn. One-third of Wisconsin’s households are renters. The average fair market rent for a two-bedroom home in Wisconsin is $859. So let’s say you’re the average renter. Now, these estimates are assuming that you’re not spending your entire paycheck on rent. You make $13.35 an hour and in order to afford a two-bedroom home, you would have to work 50 hours a week. Now let’s say you earn minimum wage, which in Wisconsin is $7.25 an hour. In order to afford that same two-bedroom home, you would have to work 91 hours a week. The affordable housing landscape also changes with the actual landscape. Neighborhoods that were once affordable to low income residents are being uprooted by higher income earners. As amenities in urban areas improve, housing costs rise. We looked at the Dane County metropolitan area as an example. In 2018, the average fair market rent for a two-bedroom in this area was $1,072. But only four years ago, that average was $164 cheaper. Some say these measurements are too simplistic and that disparities in health, employment, transportation and other factors have to weigh in. For these and other fast facts, visit wpt.org.