New data from the Center for Housing Policy confirms what many in the D.C. Metro area already know: it’s difficult or impossible for people in many professions to afford housing.
Residents in the Washington Metropolitan statistical area must earn a salary of $47,640 in order to pay fair market rent for a one-bedroom apartment, or $56,480 for a two-bedroom, according to the report. This puts housing out of reach for those in many professions, including housekeepers, wait staff, and yes, even news reporters.
Prospects for home ownership are even more daunting. With prices on homes in the area continuing their trend of double digit growth year over year, a salary of more than $80,000 is needed to afford a median-priced home of just $302,000.