Fair market rent for a 1-bedroom unit in Hampton Roads metropolitan area is $920/month. A worker earning minimum wage can afford $377/month for rent.
There is a lack of adequate, affordable housing for low-income households in South Hampton Roads. Between 2000 and 2013, the number of affordable rental units (less than 30% of income) in the region has decreased.
Indicator 1: Renters Earning Less Thank $20,000 Per Year and Paying Over 30% of Income Toward Rent
Why is this important? A decent, sage and affordable place to live is a goal of all citizens. Extremely low-income households are those earning less than $20,000 per year. They are especially burdened by high housing costs, which can require them to forego food, medical care and other necessities that lead to negative impacts on their children’s well-being (poorer health, family stress and behavioral problems).
How is the region doing? While the number of affordable rental units with no subsidy has decreased in the region, the percentage of poor households has increased. In 2013, 89% of extremely low-income households earning less than $20,000 per year were paying more than 30% of their income toward rent. This represents 30,677 households in South Hampton Roads.
Indicator 2: Housing Affordability for Senior Citizens (Over age 65)
In South Hampton Roads, over 61% of senior citizens may have to choose between paying rent and buying essentials such as food and medicine.
Why is this important? Because those over age 65 may be on fixed incomes, they are especially burdened by high housing costs. When rent is more than 30% of their income, seniors are at risk for not having enough money to pay for food, medicine and other daily needs.
How is the region doing? The number and percent of senior citizens without affordable housing continues to increase. In 2013, over 61%, or 10,000 senior citizens, were paying more than 30% of their income on rent, compared to 9,000 seniors in 2009. In 2013, the rate for South Hampton Road exceeded that of the state (52%) and the nation (54%).