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Author Topic: Austinites must work 64 hours to pay a month’s rent  (Read 889 times)

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Offline corbe

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Austinites must work 64 hours to pay a month’s rent
« on: February 13, 2018, 08:46:30 pm »

Austinites must work 64 hours to pay a month’s rent
   
By Kate Winkle
 Published: February 13, 2018, 12:45 pm  |  Updated: February 13, 2018, 1:50 pm 

AUSTIN (KXAN) — The average Austinite must work more than a normal work week in order to cover just a month of rent, according to a study examining housing costs in big cities.

With an average hourly wage of $18.64 (with taxes accounted for) and the median price of rent at $1,194 in Austin, SmartAsset calculated it would take about 64 hours for those living in Austin to make enough to cover their housing bills.

<..snip..>

http://kxan.com/2018/02/13/austinites-must-work-64-hours-to-pay-rent/
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Offline ABX

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Re: Austinites must work 64 hours to pay a month’s rent
« Reply #1 on: February 13, 2018, 08:52:22 pm »
Quote from: corbe on February 13, 2018, 08:46:30 pm
Austinites must work 64 hours to pay a month’s rent
   
By Kate Winkle
 Published: February 13, 2018, 12:45 pm  |  Updated: February 13, 2018, 1:50 pm 

AUSTIN (KXAN) — The average Austinite must work more than a normal work week in order to cover just a month of rent, according to a study examining housing costs in big cities.

With an average hourly wage of $18.64 (with taxes accounted for) and the median price of rent at $1,194 in Austin, SmartAsset calculated it would take about 64 hours for those living in Austin to make enough to cover their housing bills.

<..snip..>

http://kxan.com/2018/02/13/austinites-must-work-64-hours-to-pay-rent/

They say this like this is shocking news (or just news). Housing is generally one's largest expense and on average. I believe the average ratio one looks at for qualifying is 35% (56 hours). Austin is a bit of a higher cost of living town so 64 hours makes complete sense to be above average (but not much).  The Bay Area of California is closer to 50% or 80 hours.

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Offline WingNot

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Re: Austinites must work 64 hours to pay a month’s rent
« Reply #2 on: February 13, 2018, 09:06:47 pm »
Those guys panhandling at the I-35 off ramps will have to up there hours.
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Offline InHeavenThereIsNoBeer

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Re: Austinites must work 64 hours to pay a month’s rent
« Reply #3 on: February 13, 2018, 10:42:02 pm »
Love it.

The top of the article is labelled "kxan,  In Depth.  Investigative".

The article is an entire three paragraphs, which simply quotes someone else's work.

An nowhere in the actual study do they mention accounting for multiple incomes.  Unless that median income is for one bedrooms only, or is average paid by renter, those figures are going to be skewed.
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Offline dfwgator

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Re: Austinites must work 64 hours to pay a month’s rent
« Reply #4 on: February 13, 2018, 10:42:53 pm »
Then move.
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