Real Estate – Apartment Rents too high

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Real Estate – Apartment Rents too high

Massachusetts is among the 10 most expensive states for renters, according to a new report from the National Low Income Housing Coalition.

Although the recession is dragging down wages, rents across the country are continuing to increase, the report found. Sorry renters.

An average family needs to make more than $38,000 a year in order to afford a two- bedroom apartment. For families relying on a single wage earner, that works out to $18.44 per hour. According to the report, the Bay State is among 10 other states where an individual would have to earn more than $20 per hour to afford a two-bedroom apartment.

As a landlord, I needed to raise my rents just to keep up with the increases in property taxes and condo fees. I don’t see this as a case of greedy landlords. What are your thoughts?

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