Low-Income Households

In Montana, more than 70% of low-income households are paying more than 30% of their income on housing. A person earning minimum wage in Montana needs to work 78 hours per week or more to afford a two-bedroom home at fair market rent. It used to be that wages and housing prices allowed for folks to buy starter homes. As a person rose in pay in their employment, an individual or family could afford to grow into a larger home. While serving on Billings City Council, I watched the term *affordable* for housing shift from single family homes to multi-family units. Multi-family units can be duplexes, condos, townhouses, apartments, etc. More and more, apartment complexes are what I would hear termed *affordable* housing. Apartment living serves a wonderful purpose for many, but it does not allow for building equity in property for those who want to be homeowners. And for too many, rental prices on apartments are no longer in the *affordable* range.

https://dailymontanan.com/2022/03/20/panelists-housing-crisis-hamstrings-economic-growth-in-montana