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09/04/07 Special Meeting
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09/04/07 Special Meeting
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7/17/2025 2:53:45 PM
Creation date
8/30/2007 3:16:57 PM
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Meetings
Meeting Document Type
Agenda
Document Title
Housing & Redevelopment Authority - Special
Document Date
09/04/2007
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<br />HOUSING COSTS ARE OUT OF REACH FOR FAMILIES WITH THESE INCOMES <br /> <br />$20,000 PER YEAR OR LESS <br />(One Full- Time Worker at $7.00 - $9.60 Per Hour) <br /> <br />"ie, <br /> <br />$1,400 <br /> <br />Monthly Cost To Own <br />2/3-Bedroom House <br />$1,473 <br />(88-122% of Income) <br /> <br />$1,300 <br /> <br />$1,200 <br /> <br />$1,000 <br /> <br />, /..... ..... "......-"", <br /> <br />.'F"',:~. <br /> <br />Ii .. .. _. _. it <br />.,,,:.,,.. -'-,t""."'. <br />Monthly Rent For <br />2-Bedroom Apartment <br />$930 <br />(56-77% ofIncome) <br /> <br />$1,100 <br /> <br />$900 <br /> <br />$800 <br /> <br />$700 <br /> <br />$600 <br /> <br />I.. <br />- II <br /> <br />$500 <br /> <br />Amount Can AfTord <br />For Housing <br />$364-$500 <br />(30% ofIncome) <br /> <br />$400 <br /> <br />Jobs in this wage range include host/hostess, taxi driver, counter/rental clerk, <br />cashier, and child care worker. Housing costs take up a majority of income for <br />families with one wage earner at this level. A typical two-bedroom apartment ($930 <br />per month) costs up to three-fourths of income. The average cost of a modest sin- <br />gle-family housc ($1,473 per month) is far out of reach, at up to 100 percent of the <br />family's income. <br /> <br />2 <br />
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