Cost of Home
Habitat for Humanity seeks a world in which everyone has a decent place to live. But too many in the United States still struggle to afford the cost of home. Soaring rents and home prices have led to a substantial rise in housing cost burdens. Many renters face having to choose between paying for housing or for food, medical care or other essential expenses. Aspiring homebuyers are increasingly priced out of the housing market, setting back efforts to close homeownership gaps for households of color.
This is unacceptable.
Through the Cost of Home campaign, local Habitat organizations, partners, volunteers and community members nationwide are finding the solutions and helping to create the policies that will allow 10 million individuals to have access to stable, affordable homes.
At Habitat, we know that a family should never have to spend more than 30% of their income on a home. But in Massachusetts, 1 in 6 households pay more than 50% of their income on housing, a level deemed “severely cost-burdened.” To afford the average 2-bedroom apartment at fair market rent, a household needs to make $37.97 an hour, or $78,984 a year. Minimum wage is currently $15.00 an hour. (2022 State of Home Affordability in Massachusetts)
Increased family stability and economic mobility, a greater sense of dignity and civic pride, stronger and more vibrant communities that can attract and keep business and manufacturing — these are all connected to stable, decent, affordable housing.