logo

Affordable Housing in Utah: A Study of Rent and Income

   

Added on  2022-11-07

3 Pages829 Words246 Views
 | 
 | 
 | 
The following figures were obtained for communities living in Utah state USA.
State minimum wage $7.25. This implied that the lowest paid employee in Utah had a minimum
wage of $7.25. The corresponding affordable rent for $7.25 was $377. This indicated that rate of
affordable rent at minimum wage was very low.
The median family income for a family of 4 in Utah was $23833. This implied that even for new
employees staying in Utah with a family of 4 had the likelihood of having and income of
$23833. However, the median income may not fully consider all the families since its only
involves computation of a single value.
The rent that is affordable for a family of 4 that is (1) low income, (2) very low income, and (3)
extremely low income was $377. Considering the three groups of families the affordable rent
was $37 on average. This was extremely low compared to those who had high income. The
income was determined by the job the employee was doing.
Fair market rent for housing that is appropriate for a family of 4 with 3 bedrooms was $952.
Since this price was just fair price, this indicated that there was also very high price for the same
rent for a family of 4 (Hanson and Hawley 2011). The number of bedrooms was a major
consideration in determining the rent of the house.
Many companies provide online services for their current and potential clients to get them easily.
A person can determine where to get a rental house using the company’s website. To determine
what rental house was appropriate for a person working fulltime in Utah and receiving a
minimum wage, realtor website was used. From the website, it was for a person to rent a 3-
bedroom house which was appropriate depending on the minimum wage of the person. The link
Affordable Housing in Utah: A Study of Rent and Income_1

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents