Explosive local rent increases far exceed growth in incomes
Agencies had to ask feds to reconsider assessment for 2016
By Patty Hastings, Columbian
Social Services, Demographics, Faith
Published: July 5, 2016, 9:12pm
Share:
As economists and local housing advocates have been saying, growing rent costs outpace wage growth. But the numbers reveal just how wide the gap is: Monthly rent for a two-bedroom apartment in Clark County has increased 37 percent since 2005, while incomes among renters increased at least 11 percent at the same time.
Your tax-deductible donation to The Columbian’s Community Funded Journalism program will contribute to better local reporting on key issues, including homelessness, housing, transportation and the environment. Reporters will focus on narrative, investigative and data-driven storytelling.
Local journalism needs your help. It’s an essential part of a healthy community and a healthy democracy.