Below-Market-Rate Housing

According to the National Low Income Housing Coalition's Out of Reach Report for 2019, Connecticut ranks as 9th
highest state in the nation in terms of the hourly wage needed to afford rental housing. Fair Market Rent for a
2-bedroom apartment in the Norwich-New London area averages $1,143. Spending no more than the standard
30% of income on housing, a renter in our region needs to earn an hourly wage of $21.98 to maintain housing,
more than two times Connecticut’s present minimum wage. For families who make less, housing often consumes more than half their monthly take-home pay. The average  apartment is well beyond reach.

Always Home has invested in below-market-rate rentals in our communities in order to provide an affordable housing option for local families who are otherwise priced out of the rental market. By offering economically sustainable rents, low-income working families are given the opportunity to improve their financial stability, develop good tenancy skills, and build their savings.

 

Monthly rents are invested back into Always Home's mission, providing a reliable and sustainable income stream for our ongoing homelessness prevention programs.

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