According to the National Low Income Housing Coalition's Out of Reach Report for 2020, Connecticut ranks as the 10th 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 $1,191. Spending no more than the standard
30% of income on housing, a renter in our region needs to earn an hourly wage of $22.90. For families who make Connecticut's minimum wage ($12/hour), housing consumes more than 50% of their monthly take-home pay. For these families, the average apartment is well beyond reach.
HOW WE'RE MAKING A DIFFERENCE...
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.