Paycheck to Paycheck:

New Century Housing Volume 2, Issue 2 Center for Housing Policy/National Housing Conference May 2003 Paycheck to Paycheck: Wages and the Cost of Housing in America

Paycheck to Paycheck: Wages and the Cost of Housing in America Prepared by Maria G. Fiore and Barbara J. Lipman

Acknowledgments The Center for Housing Policy gratefully acknowledges the following organizations and individuals for their financial support of this publication. Benefactors Bank of America Century Housing Corporation Fannie Mae Foundation Freddie Mac The J.P. Morgan Chase Foundation The Kimball Hill Homes Fund of the Homebuilding Industry Foundation Patrons Chicago Dwellings Association Mrs. Marvin S. Gilman Supporters The Integral Group, LLC Kenneth G. Lore Low Investment Fund David Reznick Copyright May 2003 by the Center for Housing Policy/National Housing Conference The Library of Congress, United States Copyright Office All rights reserved. No part of this report may be reproduced or transmitted in any form or by any means without the written permission of the Center for Housing Policy/National Housing Conference. Requests should be sent to the address below. 1801 K Street, NW, Suite M-100 Washington, DC 20006-1301 Phone: (202) 466-2121 Fax: (202) 466-2122 E-mail: nhc@nhc.org Web site: http://www.nhc.org

Center for Housing Policy Officers and Directors Officers Chairman of the Board of Directors: Ann B. Schnare, Consultant President and Chief Executive Officer: Robert J. Reid, Center for Housing Policy Secretary: John K. McIlwain, The Urban Land Institute Assistant Secretary: Maria J. Sayers, National Housing Conference Directors Conrad Egan, National Housing Conference Helen R. Kanovsky, AFL-CIO Housing Investment Trust John L. Kelly, Nixon Peabody LLP G. Allan Kingston, Century Housing Corporation Shekar Narasimhan, Prudential Mortgage Capital Company J. Michael Pitchford, Bank of America Advisory Board Nancy Andrews, Low Investment Fund Ophelia B. Basgal, Housing Authorities of Alameda County and Dublin County, CA Kent W. Colton, Joint Center for Housing Studies, Harvard University David A. Crowe, National Association of Home Builders Larry H. Dale, Newman & Associates, Inc. Cushing N. Dolbeare, Joint Center for Housing Studies, Harvard University Helen M. Dunlap, Shorebank Advisory Services Jane Fortson Eisenach, Fortson Eisenach Associates, Inc. Joseph Errigo, CommonBond Communities Carol J. Galante, BRIDGE Housing Corporation Charles M. Hill, Sr., Charles Hill & Associates, Inc. David K. Hill, Kimball Hill Homes Bruce J. Katz, The Brookings Institution Ellen Lazar, Neighborhood Reinvestment Corporation David Lereah, National Association of Realtors Kenneth G. Lore, Swidler Berlin Shereff Friedman, LLP Stuart A. McFarland, Federal City Capital Advisors, LLC Sandra J. Newman, Johns Hopkins University Christine M.J. Oliver, Chicago Dwellings Association Nicolas P. Retsinas, Joint Center for Housing Studies, Harvard University Dwight P. Robinson, Freddie Mac Michael Rubinger, Local Initiatives Support Corporation Lawrence B. Simons, The NHP Foundation Michael A. Stegman, University of North Carolina at Chapel Hill Stacey D. Stewart, Fannie Mae Foundation Monica Hilton Sussman, Nixon Peabody LLP Barry Zigas, Fannie Mae

PAYCHECK TO PAYCHECK: WAGES AND THE COST OF HOUSING IN AMERICA The Concern About Working Families INTRODUCTION Since 1999, the Center for Housing Policy along with its parent organization, the National Housing Conference (NHC) has been investigating the housing needs of working families. Why should one care about the housing situation of working families? Anecdotal reports from NHC member organizations and local experts across the country have identified workforce housing as an emerging policy concern. Evidently, even during a period of unprecedented economic growth, working families were finding it increasingly difficult to rent or buy affordable housing units in the communities where they worked. Now that the country has experienced an economic downturn, the concern is that the situation has worsened. Beyond this, communities are beginning to realize the importance of affordable housing to their future economic and social well-being. For one thing, access to a suitable labor pool one of the top three considerations in business location decisions is hindered by the lack of affordable housing. For another, equity concerns arise. It is often in those communities where affordable housing for working families is most needed that the most opposition to such housing exists. In high-priced communities, people who provide the bulk of vital services teachers, firefighters, police officers, laundry and restaurant workers cannot themselves afford to live there. Moreover, a host of social problems can occur when working families face a shortage of affordable housing. Family disruption, overcrowding and congestion degrade the quality of life in the community for all residents. About the Paycheck to Paycheck Study The Center has produced a series of reports documenting the growing numbers of working families with critical housing needs. Our most recent study, America s Working Families and the Housing Landscape, 1997 2001, reveals a dramatic 67 percent increase in just four years in the number of low- to moderate-income working families paying at least half their income for housing. While figures like these provide an aggregate picture of the housing needs of working families, they do not capture the situation encountered by working families in specific occupations in particular places. To put a face on the numbers, the Center has analyzed five vital occupations, and how working families relying on the earnings from these occupations fare in 60 of the nation s largest housing markets. Using recently released government data on wage rates for 2001, this study updates the first edition of Paycheck to Paycheck, which was produced two years ago with 1999 data. The five occupations analyzed are all traditional jobs that rely on traditional wages: janitor, retail salesperson, elementary school teacher, licensed practical nurse and police officer. These were selected for several reasons. First, despite the new economy, high-tech jobs are not eliminating these occupations. Indeed, the demand for these and occupations like them is expected to increase. Not surprisingly, included on the Department of Labor s list of occupations with the largest expected growth through the years 2000-2010 are computer software engineers (380,000). But, also appearing prominently on the list are elementary school teachers (202,000), janitors (317,000), heavy truck drivers (346,000), retail salespersons (510,000) and food preparation workers (673,000). 1 Of the occupations we have selected, janitors, retail salespersons and elementary school teachers are all occupations with large numbers of practitioners, as well as having substantial projected growth in the labor force. Second, both retail salespersons and janitors represent occupations that are attracting welfare-to-work participants and other first-time entrants into the workforce. Third, although police officers are not statistically numerous, they, along with teachers, have been selected for the vital role they play in our communities. Finally, licensed practical nurses represent the important healthcare sector, and were chosen instead of registered nurses because the lower qualifications make this occupation suitable for workers moving up the economic ladder. 1 Table 4, Occupations with the Largest Job Growth, 2000 2010, in Occupational Employment Projections to 2010, Monthly Labor Review, November 2001.

As before, this study compares the prevailing wages for these occupations in each of the 60 largest housing markets with the cost of housing in each market. On the rental side, the cost of housing was calculated using the HUD Fair Market Rents (FMR) 2 for a one-bedroom and a two-bedroom apartment, and computing the housing wage (a concept developed by the National Low Housing Coalition) required to afford the unit that is, the wage that must be earned so that the rent does not exceed 30 percent of income. On the homeownership side, using data for the cost of a median-priced home, we calculated the income required to qualify for a mortgage on that home (using 10 percent down). The salaries for each of the five occupations were then compared with this qualifying income in each metropolitan area. Our Findings Perhaps the most disturbing finding from the Center s analysis is that families dependent on a janitor s or retail salesperson s salary alone as would be the case with a single mother with children, for example and renting a two-bedroom apartment generally pay in excess of what is considered affordable in all 60 metropolitan markets. In fact, in all but two metropolitan areas, they generally pay more than what is required for a one-bedroom apartment to be considered affordable. Out of both choice and necessity, many working families have more than one wage earner to keep them out of serious housing stress. But, in some of the hottest West Coast markets, as well as metropolitan areas as diverse as Boston, MA; Dallas, TX; Middlesex, NJ; Washington, D.C.; and West Palm Beach, FL, typical rents require more than 30 percent of two such salaries. In the homeownership market, families dependent on a police officer s salary are priced out of almost half (28) of the 60 markets, while households dependent on one teacher s salary alone cannot afford to buy a home in 32 localities. Still, this is an improvement since 1999, and lower interest rates are likely to have played a part. practical nurses are priced out of all but three of the 60 markets. s and retail salespersons require more than double their salaries in many of the 60 metropolitan areas, up to three times their salaries in expensive areas and up to seven times their salaries in the most expensive areas. For the United States as a whole, median earnings in all five occupations fall short of qualifying for the medianpriced home of $156,000, with the earnings of licensed practical nurses, retail sales persons and janitors lagging by substantial margins. For a two-bedroom rental, a worker would have to earn $13.87 per hour for that unit to be considered affordable. The national median hourly wage of a retail salesperson and janitor is $8.24 and $8.61, respectively. Although this study focuses on five selected occupations, the wages for these occupations are not atypical. This study presents a list of other essential occupations, the total number employed in those occupations and median wages. Depending on their actual wages and where they live, these workers may encounter similar problems with housing affordability. We believe this simple, straightforward analysis serves two purposes. First, it paints a broad picture of what is happening in varied housing and labor markets nationwide. Second, it provides a basic measure that local policymakers and citizens can expand upon to examine wages and the cost of housing in their communities. After all, government, business and the larger community all have a clear interest in ensuring that working families, who are the backbone of local communities, have a decent and affordable place to live. 2 The U.S. Department of Housing and Urban Development generally sets Fair Market Rents (FMR) at the 40th percentile of prevailing rents, based on a survey of recently occupied units. For more expensive areas, the FMR is set at the median.

PAYCHECK TO PAYCHECK: WAGES AND THE COST OF HOUSING IN AMERICA This study compares wages for five vital occupations janitor, retail salesperson, elementary school teacher, police officer and licensed practical nurse with homeownership and rental housing costs in 60 of the nation s largest housing markets. KEY FINDINGS: Homeownership Cannot qualify for a mortgage for the median-priced home: s all 60 metropolitan markets s all 60 metropolitan markets s 32 metropolitan markets s 28 metropolitan markets s 57 metropolitan markets Rent on a two-bedroom apartment Paying excessive income: s all 60 metropolitan markets s all 60 metropolitan markets s 1 metropolitan market s 1 metropolitan market s 17 metropolitan markets Rent on a one-bedroom apartment Paying excessive income: s 58 metropolitan markets 59 metropolitan markets s 2 metropolitan markets s 3 metropolitan markets s 4 metropolitan markets For the U.S. Workers need to earn $49,703 to qualify for a mortgage on a $156,000 medianpriced home. s earn $17,900, s - $17,150, s - $41,080, s - $40,970, and s - $30,670. Workers need to earn $13.87/hour to afford the median two-bedroom apartment at $721/month. s earn $8.61/hour and s earn $8.24/hour. Between 1999 and 2001, the percent of income needed for a mortgage: s up in 36 metropolitan markets, an average of 6.7 percentage points and down in 24 markets, an average of 4.7 percentage points s up in 40 metropolitan markets, an average of 8.2 percentage points and down in 20 markets, an average of 3.9 percentage points s up in 32 metropolitan markets, an average of 4.0 percentage points and down in 25 markets, an average of 2.8 percentage points (1999 data unavailable for 3 markets) s up in 30 metropolitan markets, an average of 3.4 percentage points and down in 25 markets, an average of 2.9 percentage points (1999 data unavailable for 5 markets) s up in 31 metropolitan markets, an average of 4.7 percentage points and down in 28 markets, an average of 2.6 percentage points (1999 data unavailable for 1 market) Between 1999 and 2001, the percent of income needed for a twobedroom apartment: s up in 45 metropolitan markets, an average of 5.8 percentage points and down in 15 markets, an average of 3.0 percentage points s up in 54 metropolitan markets, an average of 5.6 percentage points and down in 6 markets, an average of 1.5 percentage points Between 1999 and 2001, the percent of income needed for a onebedroom apartment: s up in 45 metropolitan markets, an average of 4.7 percentage points and down in 15 markets, an average of 2.4 percentage points s up in 54 metropolitan markets, an average of 4.5 percentage points and down in 6 markets, an average of 1.2 percentage points

The Percent of Monthly for a Monthly Mortgage Payment (2001) The Most Expensive The Least Expensive San Jose, CA 216% Buffalo-Niagara Falls, NY 43% San Francisco, CA 204% Rochester, NY 51% Orange County, CA 155% Pittsburgh, PA 52% San Diego, CA 136% Oklahoma City, OK 53% Oakland, CA 135% Grand Rapids-Muskegon-Holland, MI 55% Bergen-Passaic, NJ 120% Las Vegas, NV-AZ 56% Los Angeles-Long Beach, CA 108% Cincinnati, OH-KY-IN 57% Boston, MA-NH 100% Kansas City, MO-KS 58% Newark, NJ 99% New York, NY 58% Denver, CO 97% Philadelphia, PA-NJ 58% San Francisco, CA 106% Buffalo-Niagara Falls, NY 16% San Jose, CA 80% Pittsburgh, PA 18% Oakland, CA 62% Rochester, NY 21% Orange County, CA 57% Grand Rapids-Muskegon-Holland, MI 23% Denver, CO 50% Cleveland-Lorain-Elyria, OH 24% San Diego, CA 50% Hartford, CT 24% Seattle-Bellevue-Everett, WA 47% San Antonio, TX 24% Chicago, IL 44% Tampa-St. Petersburg, FL 24% Bergen-Passaic, NJ 43% Milwaukee-Waukesha, WI 25% Boston, MA-NH 43% Philadelphia, PA-NJ 25% San Jose, CA 79% Buffalo-Niagara Falls, NY 17% San Francisco, CA 71% Pittsburgh, PA 20% Boston, MA-NH 47% Rochester, NY 20% Oakland, CA 45% Oklahoma City, OK 22% Los Angeles-Long Beach, CA 43% Fort Lauderdale, FL 23% Raleigh-Durham-Chapel Hill, NC 43% Nassau-Suffolk, NY 23% Orange County, CA 41% Tampa-St. Petersburg, FL 23% St. Louis, MO-IL 41% Miami, FL 24% New Orleans, LA 40% Cincinnati, OH-KY-IN 25% San Diego, CA 40% Grand Rapids-Muskegon-Holland, MI 25% San Antonio, TX 25% San Francisco, CA 110% Buffalo-Niagara Falls, NY 28% San Jose, CA 97% Hartford, CT 29% San Diego, CA 74% Rochester, NY 30% Orange County, CA 72% Cincinnati, OH-KY-IN 31% Oakland, CA 69% Oklahoma City, OK 31% Los Angeles-Long Beach, CA 59% Philadelphia, PA-NJ 31% Seattle-Bellevue-Everett, WA 59% Pittsburgh, PA 31% Bergen-Passaic, NJ 56% Tampa-St. Petersburg, FL 31% Boston, MA-NH 56% Fort Lauderdale, FL 32% Denver, CO 52% Milwaukee-Waukesha, WI 32% San Francisco, CA 234% Oklahoma City, OK 48% San Jose, CA 211% Buffalo-Niagara Falls, NY 52% Oakland, CA 158% Rochester, NY 56% Orange County, CA 150% Pittsburgh, PA 58% San Diego, CA 133% Tampa-St. Petersburg, FL 58% Bergen-Passaic, NJ 118% Kansas City, MO-KS 60% Boston, MA-NH 116% Memphis, TN-AR-MS 61% Los Angeles-Long Beach, CA 114% San Antonio, TX 61% Monmouth-Ocean, NJ 106% Fort Worth-Arlington, TX 63% Sacramento, CA 104% Grand Rapids-Muskegon-Holland, MI 63%

The Percent of Monthly for a Monthly Rent Payment on a Two-Bedroom Apartment (2001) The Most Expensive The Least Expensive San Jose, CA 100% Cincinnati, OH-KY-IN 36% San Francisco, CA 90% Grand Rapids-Muskegon-Holland, MI 37% Orange County, CA 78% Providence-Fall River-Warwick, RI-MA 37% Nassau-Suffolk, NY 71% Indianapolis, IN 39% San Diego, CA 70% Pittsburgh, PA 39% Bergen-Passaic, NJ 69% Columbus, OH 40% Boston, MA-NH 69% Buffalo-Niagara Falls, NY 41% Oakland, CA 67% Las Vegas, NV-AZ 41% Washington, DC-MD-VA-WV 66% Sacramento, CA 41% Austin-San Marcos, TX 65% Detroit, MI 42% Hartford, CT 42% Milwaukee-Waukesha, WI 42% St. Louis, MO-IL 42% San Francisco, CA 104% Indianapolis, IN 39% San Jose, CA 98% Cincinnati, OH-KY-IN 40% Nassau-Suffolk, NY 83% Greensboro--Winston-Salem--High Point, NC 40% Boston, MA-NH 81% Oklahoma City, OK 40% Oakland, CA 78% Grand Rapids-Muskegon-Holland, MI 42% Orange County, CA 75% Memphis, TN-AR-MS 42% New York, NY 71% Columbus, OH 44% Bergen-Passaic, NJ 68% Pittsburgh, PA 44% San Diego, CA 68% St. Louis, MO-IL 44% Middlesex-Somerset-Hunterdon, NJ 67% Nashville, TN 45% Monmouth-Ocean, NJ 67% Providence-Fall River-Warwick, RI-MA 45% Riverside-San Bernardino, CA 45% San Antonio, TX 45% Note: A two-bedroom apartment is unaffordable for both a and in all 60 cities. A two-bedroom apartment is unaffordable for a in 17 of the 60 cities (San Francisco, CA; San Jose, CA; Boston, MA-NH; Nassau-Suffolk, NY; San Diego, CA; Orange County, CA; Atlanta, GA; Austin-San Marcos, TX; New York, NY; Oakland, CA; Middlesex-Somerset-Hunterdon, NJ; Bergen-Passaic, NJ; Chicago, IL; Monmouth-Ocean, NJ; Denver, CO; Minneapolis-St. Paul, MN; and Washington, DC-MD-VA-WV). A two bedroom apartment is unaffordable for a in 3 of the 60 cities (San Jose, CA; Boston, MA-NH; and San Francisco, CA). A two-bedroom apartment is unaffordable for an in 2 of the 60 cities (San Francisco, CA and San Jose, CA).

The Percent of Monthly for a Monthly Rent Payment on a One-Bedroom Apartment (2001) The Most Expensive The Least Expensive San Jose, CA 81% Cincinnati, OH-KY-IN 27% San Francisco, CA 71% Grand Rapids-Muskegon-Holland, MI 30% Orange County, CA 63% Columbus, OH 31% Bergen-Passaic, NJ 59% Providence-Fall River-Warwick, RI-MA 31% Nassau-Suffolk, NY 58% Pittsburgh, PA 32% Boston, MA-NH 56% Hartford, CT 33% San Diego, CA 56% Indianapolis, IN 33% Washington, DC-MD-VA-WV 56% Sacramento, CA 33% Newark, NJ 53% St. Louis, MO-IL 33% Oakland, CA 53% Buffalo-Niagara Falls, NY 34% Las Vegas, NV-AZ 34% Milwaukee-Waukesha, WI 34% Oklahoma City, OK 34% San Francisco, CA 82% Cincinnati, OH-KY-IN 30% San Jose, CA 79% Oklahoma City, OK 31% Nassau-Suffolk, NY 68% Indianapolis, IN 32% Boston, MA-NH 64% Greensboro--Winston-Salem--High Point, NC 33% New York, NY 63% Columbus, OH 34% Oakland, CA 62% St. Louis, MO-IL 34% Orange County, CA 61% Grand Rapids-Muskegon-Holland, MI 35% Bergen-Passaic, NJ 58% Memphis, TN-AR-MS 35% San Diego, CA 55% San Antonio, TX 35% Middlesex-Somerset-Hunterdon, NJ 54% Pittsburgh, PA 36% Washington, DC-MD-VA-WV 54% Note: A one-bedroom apartment is unaffordable for a in 58 of the 60 cities. A one-bedroom apartment is unaffordable for a in 59 of the 60 cities. A one-bedroom apartment is unaffordable for a in 4 of the 60 cities (San Francisco, CA; San Jose, CA; Nassau-Suffolk, NY; and Boston, MA-NH). A one-bedroom apartment is unaffordable for an in 1 of the 60 cities (San Francisco, CA). A can afford a onebedroom in all 60 cities.

The Greatest Changes in Percentage of Monthly for a Monthly Mortgage Payment (1999-2001) The Greatest Percentage Point Increase The Greatest Percentage Point Decrease Bergen-Passaic, NJ +32.2 Charlotte-Gastonia-Rock Hill, NC -11.4 San Jose, CA +23.8 Kansas City, MO-KS -9.4 San Diego, CA +20.4 Las Vegas, NV-AZ -8.2 Boston, MA-NH +17.6 Portland-Vancouver, OR-WA -7.5 Oakland, CA +17.2 Cincinnati, OH-KY-IN -7.0 Riverside-San Bernardino, CA +12.2 Hartford, CT -6.2 Newark, NJ +10.6 Detroit, MI -6.0 Minneapolis-St. Paul, MN-WI +9.5 West Palm Beach-Boca Raton, FL -6.0 Denver, CO +9.1 Memphis, TN-AR-MS -5.8 San Francisco, CA +8.5 Buffalo-Niagara Falls, NY -5.6 Bergen-Passaic, NJ +10.6 Miami, FL -9.0 Monmouth-Ocean, NJ +10.1 Raleigh-Durham-Chapel Hill, NC -7.9 San Francisco, CA +9.0 New York, NY -5.4 San Jose, CA +8.5 Baltimore, MD -4.4 Boston, MA-NH +8.2 Washington, DC-MD-VA-WV -4.3 Denver, CO +7.8 Detroit, MI -4.1 Oakland, CA +7.0 West Palm Beach-Boca Raton, FL -4.1 Middlesex-Somerset-Hunterdon, NJ +6.2 Charlotte-Gastonia-Rock Hill, NC-SC -3.9 Sacramento, CA +4.8 Greensboro-Winston-Salem-High Point, NC -3.8 Phoenix-Mesa, AZ +4.7 Salt Lake City-Ogden, UT -3.5 San Jose, CA +12.6 Seattle-Bellevue-Everett, WA -13.1 San Francisco, CA +11.9 Jacksonville, FL -6.2 Oakland, CA +9.0 Indianapolis, IN -5.7 Bergen-Passaic, NJ +6.1 Washington, DC-MD-VA-WV -5.7 Boston, MA-NH +5.7 Nassau-Suffolk, NY -5.2 Philadelphia, PA-NJ +5.2 Kansas City, MO-KS -4.6 Austin-San Marcos, TX +4.4 Rochester, NY -4.5 Nashville, TN +4.3 Orlando, FL -4.0 Monmouth-Ocean, NJ +3.8 Salt Lake City-Ogden, UT -2.7 San Diego, CA +3.5 Fort Worth-Arlington, TX -2.3 Raleigh-Durham-Chapel Hill, NC -2.3 San Francisco, CA +18.3 Indianapolis, IN -8.1 San Diego, CA +13.9 Raleigh-Durham-Chapel Hill, NC -7.0 San Jose, CA +13.9 Kansas City, MO-KS -5.8 Bergen-Passaic, NJ +9.6 Newark, NJ -5.4 Boston, MA-NH +9.5 Charlotte-Gastonia-Rock Hill, NC-SC -5.1 Orange County, CA +8.4 Fort Lauderdale, FL -4.3 Oakland, CA +8.3 Cincinnati, OH-KY-IN -3.6 Sacramento, CA +8.1 Salt Lake City-Ogden, UT -3.3 Los Angeles-Long Beach, CA +5.9 Portland-Vancouver, OR-WA -3.0 Minneapolis-St. Paul, MN-WI +5.3 New Orleans, LA -2.8 Riverside-San Bernardino, CA +5.3 Bergen-Passaic, NJ +27.7 Indianapolis, IN -13.9 San Francisco, CA +23.6 Newark, NJ -9.7 Orange County, CA +19.1 Kansas City, MO-KS -8.7 Boston, MA-NH +17.7 Salt Lake City-Ogden, UT -7.8 Oakland, CA +17.6 Portland-Vancouver, OR-WA -5.6 Sacramento, CA +17.5 Norfolk, Virginia Beach-Newport News, VA -5.0 Monmouth-Ocean, NJ +17.2 Raleigh-Durham-Chapel Hill, NC -4.3 San Diego, CA +15.6 Detroit, MI -3.7 San Jose, CA +15.5 Memphis, TN-AR-MS -3.4 Minneapolis-St. Paul, MN-WI +10.0 Washington, DC-MD-VA-WV -2.4

The Greatest Changes in Percentage of Monthly for a Two-Bedroom Monthly Rent Payment (1999-2001) The Greatest Percentage Point Increase The Greatest Percentage Point Decrease San Jose, CA +18.0 Providence-Fall River-Warwick, RI-MA -7.1 San Francisco, CA +16.0 Nashville, TN -4.5 San Diego, CA +15.7 Las Vegas, NV-AZ -4.0 Boston, MA-NH +14.8 Monmouth-Ocean, NJ -4.0 Oakland, CA +14.5 Miami, FL -3.7 Newark, NJ +12.3 Cincinnati, OH-KY-IN -3.2 Bergen-Passaic, NJ +11.5 Hartford, CT -3.2 Denver, CO +11.2 Sacramento, CA -2.9 New Orleans, LA +10.1 West Palm Beach-Boca Raton, FL -2.6 Atlanta, GA +9.3 Grand Rapids-Muskegon-Holland, MI -2.4 San Francisco, CA +23.7 Providence-Fall River-Warwick, RI-MA -3.7 Oakland, CA +15.8 Indianapolis, IN -1.8 Boston, MA-NH +15.4 Middlesex-Somerset-Hunterdon, NJ -1.8 San Jose, CA +14.3 Greensboro-Winston-Salem-High Point, NC -1.1 Orange County, CA +13.3 Milwaukee-Waukesha, WI -0.6 San Diego, CA +13.3 Newark, NJ -0.2 Atlanta, GA +10.2 Rochester, NY 0.0 Denver, CO +9.1 New Orleans, LA +9.1 Minneapolis-St. Paul, MN-WI +8.9

The Greatest Changes in Percentage of Monthly for a One-Bedroom Monthly Rent Payment (1999-2001) The Greatest Percentage Point Increase The Greatest Percentage Point Decrease San Jose, CA +14.6 Providence-Fall River-Warwick, RI-MA -5.9 San Francisco, CA +12.7 Nashville, TN -3.7 San Diego, CA +12.5 Las Vegas, NV-AZ -3.3 Boston, MA-NH +11.9 Monmouth-Ocean, NJ -3.1 Oakland, CA +11.6 Miami, FL -3.0 Newark, NJ +10.2 Hartford, CT -2.5 Bergen-Passaic, NJ +9.8 Cincinnati, OH-KY-IN -2.4 Denver, CO +8.4 Sacramento, CA -2.4 New Orleans, LA +8.2 West Palm Beach-Boca Raton, FL -2.1 Atlanta, GA +8.0 Grand Rapids-Muskegon-Holland, MI -2.0 San Francisco, CA +18.7 Providence-Fall River-Warwick, RI-MA -3.1 Oakland, CA +12.7 Indianapolis, IN -1.5 Boston, MA-NH +12.4 Middlesex-Somerset-Hunterdon, NJ -1.5 San Jose, CA +11.6 Greensboro-Winston-Salem-High Point, NC -0.8 Orange County, CA +10.8 Milwaukee-Waukesha, WI -0.5 San Diego, CA +10.6 Newark, NJ -0.2 Atlanta, GA +8.7 Cincinnati, OH-KY-IN 0.0 Bergen-Passaic, NJ +7.4 New Orleans, LA +7.4 Denver, CO +6.9 Minneapolis-St. Paul, MN-WI +6.9 Tampa-St. Petersburg-Clearwater, FL +6.9

Typical Occupations and Wages, 2001 Occupation Number Employed in the US Median Hourly Wage Billing Clerk 480,610 $12.19 Bookkeeping Clerk 1,697,890 $12.76 Carpenter 851,610 $16.09 Cashier 3,387,580 $7.19 Child and Family Social Worker 257,080 $15.84 Child Care Worker 418,540 $7.71 Construction Laborer 825,390 $11.57 Correctional Officer/Jailer 401,250 $15.39 Counter and Rental Clerk 434,250 $8.05 Customer Service Representative 1,875,370 $12.23 Data Entry Keyer 405,000 $10.56 Electrical Assembler 302,530 $10.71 1,452,160 $19.75 Fast Food Cook 601,570 $6.70 File Clerk 249,970 $9.37 Firefighter 275,500 $16.67 Food Preparation Worker 855,800 $7.65 General Office Clerk 2,791,420 $10.47 Hairdresser and Stylist 329,920 $8.78 Home Health Aide 560,190 $8.46 Inspector and Tester 525,540 $12.83 and Cleaner 2,071,920 $8.61 Landscaper and Groundskeeper 772,800 $9.19 Librarian 150,280 $20.52 683,790 $14.75 Light Truck Driver 996,000 $11.22 Machinist 390,090 $15.43 Maintenance and Repair Worker 1,232,280 $13.82 Packer and Packager 951,960 $7.83 Police Patrol Officer 599,550 $19.70 Production Worker/Helper 459,440 $9.13 Receptionist and Information Clerk 1,046,590 $9.93 Registered 2,217,990 $22.44 3,917,190 $8.24 Security Guard 995,510 $8.94 Stock and Material Mover/Laborer 2,098,180 $9.35 Stock Clerk and Order Filler 1,680,640 $9.16 Switchboard Operator 227,660 $9.93 Team Assembler 1,189,840 $10.70 Teller 532,740 $9.54 Waiter and Waitress 1,981,810 $6.60 Welder 382,400 $13.70 Word Processor 229,090 $12.50 Paycheck to Paycheck: Wages and the Cost of Housing in America focuses on five selected occupations (see bold faced items). However, the wages for these occupations are not atypical. This chart presents a sampling of other essential occupations, the total number employed in those occupations and median wages. Depending on their actual wages and where they live, these workers may encounter similar problems with housing affordability.

WHAT IS HAPPENING IN THE UNITED STATES: National Median (2001) $156,000 $49,703 $41,080 $40,970 $30,670 $17,150 $17,900 $13.87 National Median Hourly Wage (2001) $721/month $8.24 $8.61 to Qualify for a Mortgage is calculated using the prevailing 2001 interest rate, assumes a 10 percent downpayment and includes and Hourly Wage data for selected occupations are from the Bureau of Labor Statistics, Occupational Employment Statistics Survey, 2001, Fair Market Rents and a or Apartment are from the National Low Housing Coalition, Out of Reach 2001, Note: For comparison, in 1999, workers needed to earn $45,343 to qualify for a mortgage on a $138,000 median-priced home. In 1999, s earned $16,440; s earned $15,940; s earned $37,070; s earned $37,560; and s earned $27,850. In 1999, workers needed to earn $11.08/hour to afford the median two-bedroom apartment at $576/month. In 1999, s earned $7.90/hour and s earned $7.66/hour.

ATLANTA, GA Area Median (2001) $50,021 $43,360 $157,000 $35,730 $30,140 $17,680 $17,460 $16.88 $14.48 $14.49 $753/month $878/month $8.50 $8.39 to Qualify for a Mortgage is calculated using the prevailing 2001 interest rate, assumes a 10 percent downpayment and includes and Hourly Wage data for selected occupations are from the Bureau of Labor Statistics, Occupational Employment Statistics Survey, 2001, Fair Market Rents and a or Apartment are from the National Low Housing Coalition, Out of Reach 2001,

AUSTIN-SAN MARCOS, TX $54,482 Area Median (2001) $171,000 $36,410 $40,510 $30,590 $18,110 $16,300 $17.06 $667/month $887/month $12.83 $14.71 $8.71 $7.84 to Qualify for a Mortgage is calculated using the prevailing 2001 interest rate, assumes a 10 percent downpayment and includes and Hourly Wage data for selected occupations are from the Bureau of Labor Statistics, Occupational Employment Statistics Survey, 2001, Fair Market Rents and a or Apartment are from the National Low Housing Coalition, Out of Reach 2001,

BALTIMORE, MD Area Median (2001) $45,879 $47,990 $44,810 $144,000 $37,130 $16,660 $15,700 $13.23 $10.85 $564/month $688/month $8.01 $7.55 to Qualify for a Mortgage is calculated using the prevailing 2001 interest rate, assumes a 10 percent downpayment and includes and Hourly Wage data for selected occupations are from the Bureau of Labor Statistics, Occupational Employment Statistics Survey, 2001, Fair Market Rents and a or Apartment are from the National Low Housing Coalition, Out of Reach 2001,

BERGEN-PASSAIC, NJ Area Median (2001) $78,696 $71,250 $247,000 $51,610 $39,220 $18,660 $18,300 $17.23 $20.19 $18.86 $896/month $1,050/month $8.97 $8.80 to Qualify for a Mortgage is calculated using the prevailing 2001 interest rate, assumes a 10 percent downpayment and includes and Hourly Wage data for selected occupations are from the Bureau of Labor Statistics, Occupational Employment Statistics Survey, 2001, Fair Market Rents and a or Apartment are from the National Low Housing Coalition, Out of Reach 2001,

WHAT IS HAPPENING IN YOUR AREA: BOSTON, MA-NH Area Median (2001) $77,103 $242,000 $49,720 $46,120 $38,850 $18,620 $21,600 $999/month $19.21 $24.04 $23.90 $22.17 $18.68 $1,250/month $8.95 $10.38 Police Officer to Qualify for a Mortgage is calculated using the prevailing 2001 interest rate, assumes a 10 percent downpayment and includes and Hourly Wage data for selected occupations are from the Bureau of Labor Statistics, Occupational Employment Statistics Survey, 2001, Fair Market Rents and a or Apartment are from the National Low Housing Coalition, Out of Reach 2001,

BUFFALO-NIAGARA FALLS, NY Area Median (2001) $48,720 $46,020 $87,000 $27,719 $27,690 $14,960 $17,980 $504/month $9.69 $11.69 $8.65 $608/month $7.19 to Qualify for a Mortgage is calculated using the prevailing 2001 interest rate, assumes a 10 percent downpayment and includes and Hourly Wage data for selected occupations are from the Bureau of Labor Statistics, Occupational Employment Statistics Survey, 2001, Fair Market Rents and a or Apartment are from the National Low Housing Coalition, Out of Reach 2001,

CHARLOTTE-GASTONIA-ROCK HILL, NC-SC Area Median (2001) $48,747 $153,000 $37,790 $34,660 $33,400 $17,590 $18,190 $13.04 $11.58 $602/month $678/month $8.46 $8.75 to Qualify for a Mortgage is calculated using the prevailing 2001 interest rate, assumes a 10 percent downpayment and includes and Hourly Wage data for selected occupations are from the Bureau of Labor Statistics, Occupational Employment Statistics Survey, 2001, Fair Market Rents and a or Apartment are from the National Low Housing Coalition, Out of Reach 2001,

CHICAGO, IL Area Median (2001) $60,535 $190,000 $38,450 $44,660 $33,480 $18,610 $20,510 $17.13 $16.10 $14.37 $747/month $8.95 $9.86 $891/month to Qualify for a Mortgage is calculated using the prevailing 2001 interest rate, assumes a 10 percent downpayment and includes and Hourly Wage data for selected occupations are from the Bureau of Labor Statistics, Occupational Employment Statistics Survey, 2001, Fair Market Rents and a or Apartment are from the National Low Housing Coalition, Out of Reach 2001,

CINCINNATI, OH-KY-IN Area Median (2001) $39,826 $43,420 $43,850 $36,560 $125,000 $17,170 $19,400 $11.08 $430/month $8.27 $8.25 $9.33 $576/month to Qualify for a Mortgage is calculated using the prevailing 2001 interest rate, assumes a 10 percent downpayment and includes and Hourly Wage data for selected occupations are from the Bureau of Labor Statistics, Occupational Employment Statistics Survey, 2001, Fair Market Rents and a or Apartment are from the National Low Housing Coalition, Out of Reach 2001,

CLEVELAND-LORAIN-ELYRIA, OH Area Median (2001) $48,030 $127,000 $40,463 $42,690 $33,080 $16,860 $17,750 $13.96 $587/month $726/month $11.29 $8.11 $8.53 to Qualify for a Mortgage is calculated using the prevailing 2001 interest rate, assumes a 10 percent downpayment and includes and Hourly Wage data for selected occupations are from the Bureau of Labor Statistics, Occupational Employment Statistics Survey, 2001, Fair Market Rents and a or Apartment are from the National Low Housing Coalition, Out of Reach 2001,

COLUMBUS, OH Area Median (2001) $43,330 $44,700 $45,820 $136,000 $33,680 $17,130 $18,980 $12.04 $487/month $9.37 $8.24 $9.12 $626/month to Qualify for a Mortgage is calculated using the prevailing 2001 interest rate, assumes a 10 percent downpayment and includes and Hourly Wage data for selected occupations are from the Bureau of Labor Statistics, Occupational Employment Statistics Survey, 2001, Fair Market Rents and a or Apartment are from the National Low Housing Coalition, Out of Reach 2001,

DALLAS, TX Area Median (2001) $49,703 $46,830 $156,000 $38,760 $35,910 $17,730 $15,800 $15.58 $631/month $12.13 $810/month $8.52 $7.60 to Qualify for a Mortgage is calculated using the prevailing 2001 interest rate, assumes a 10 percent downpayment and includes and Hourly Wage data for selected occupations are from the Bureau of Labor Statistics, Occupational Employment Statistics Survey, 2001, Fair Market Rents and a or Apartment are from the National Low Housing Coalition, Out of Reach 2001,

DENVER, CO $63,084 Area Median (2001) $198,000 $48,660 $35,670 $34,200 $19,290 $18,280 $17.17 $17.15 $16.44 $671/month $893/month $12.90 $9.27 $8.79 to Qualify for a Mortgage is calculated using the prevailing 2001 interest rate, assumes a 10 percent downpayment and includes and Hourly Wage data for selected occupations are from the Bureau of Labor Statistics, Occupational Employment Statistics Survey, 2001, Fair Market Rents and a or Apartment are from the National Low Housing Coalition, Out of Reach 2001,

DETROIT, MI Area Median (2001) $47,154 $50,390 $45,460 $148,000 $35,500 $17,550 $21,570 $14.44 $621/month $11.94 $8.44 $10.37 $751/month to Qualify for a Mortgage is calculated using the prevailing 2001 interest rate, assumes a 10 percent downpayment and includes and Hourly Wage data for selected occupations are from the Bureau of Labor Statistics, Occupational Employment Statistics Survey, 2001, Fair Market Rents and a or Apartment are from the National Low Housing Coalition, Out of Reach 2001,

WHAT IS HAPPENING IN YOUR AREA: FORT LAUDERDALE, FL Area Median (2001) $50,080 $130,000 $41,419 $43,156 $36,610 $17,230 $15,860 $14.75 $11.90 $619/month $767/month $8.28 $7.62 to Qualify for a Mortgage is calculated using the prevailing 2001 interest rate, assumes a 10 percent downpayment and includes and Hourly Wage data for selected occupations are from the Bureau of Labor Statistics, Occupational Employment Statistics Survey, 2001, Fair Market Rents and a or Apartment are from the National Low Housing Coalition, Out of Reach 2001, Note: 2001 Area Median figure for the was unavailable. The figure provided is from 2002 and was accessed at http://www.salary.com.

FORT WORTH-ARLINGTON, TX Area Median (2001) $38,870 $39,430 $42,030 $32,550 $122,000 $17,260 $17,700 $13.60 $546/month $707/month $10.50 $8.30 $8.51 to Qualify for a Mortgage is calculated using the prevailing 2001 interest rate, assumes a 10 percent downpayment and includes and Hourly Wage data for selected occupations are from the Bureau of Labor Statistics, Occupational Employment Statistics Survey, 2001, Fair Market Rents and a or Apartment are from the National Low Housing Coalition, Out of Reach 2001,

GRAND RAPIDS-MUSKEGON-HOLLAND, MI Area Median (2001) $39,826 $47,680 $44,320 $125,000 $32,320 $17,610 $20,220 $11.96 $509/month $9.79 $8.47 $9.72 $622/month to Qualify for a Mortgage is calculated using the prevailing 2001 interest rate, assumes a 10 percent downpayment and includes and Hourly Wage data for selected occupations are from the Bureau of Labor Statistics, Occupational Employment Statistics Survey, 2001, Fair Market Rents and a or Apartment are from the National Low Housing Coalition, Out of Reach 2001,

GREENSBORO--WINSTON-SALEM--HIGH POINT, NC Area Median (2001) $41,419 $39,390 $130,000 $34,340 $31,860 $17,470 $15,720 $11.12 $486/month $9.35 $8.40 $7.56 $578/month to Qualify for a Mortgage is calculated using the prevailing 2001 interest rate, assumes a 10 percent downpayment and includes and Hourly Wage data for selected occupations are from the Bureau of Labor Statistics, Occupational Employment Statistics Survey, 2001, Fair Market Rents and a or Apartment are from the National Low Housing Coalition, Out of Reach 2001,

HARTFORD, CT Area Median (2001) $45,242 $52,000 $48,020 $42,980 $142,000 $17,810 $21,340 $14.25 $579/month $741/month $11.13 $8.56 $10.26 to Qualify for a Mortgage is calculated using the prevailing 2001 interest rate, assumes a 10 percent downpayment and includes and Hourly Wage data for selected occupations are from the Bureau of Labor Statistics, Occupational Employment Statistics Survey, 2001, Fair Market Rents and a or Apartment are from the National Low Housing Coalition, Out of Reach 2001,

HOUSTON, TX Area Median (2001) $43,968 $39,730 $41,660 $138,000 $32,760 $16,440 $13,850 $13.63 $548/month $709/month $10.54 $7.90 $6.66 to Qualify for a Mortgage is calculated using the prevailing 2001 interest rate, assumes a 10 percent downpayment and includes and Hourly Wage data for selected occupations are from the Bureau of Labor Statistics, Occupational Employment Statistics Survey, 2001, Fair Market Rents and a or Apartment are from the National Low Housing Coalition, Out of Reach 2001,

INDIANAPOLIS, IN Area Median (2001) $130,000 $41,419 $43,360 $35,100 $34,870 $17,950 $17,560 $11.12 $481/month $578/month $9.25 $8.63 $8.44 to Qualify for a Mortgage is calculated using the prevailing 2001 interest rate, assumes a 10 percent downpayment and includes and Hourly Wage data for selected occupations are from the Bureau of Labor Statistics, Occupational Employment Statistics Survey, 2001, Fair Market Rents and a or Apartment are from the National Low Housing Coalition, Out of Reach 2001,

JACKSONVILLE, FL Area Median (2001) $39,826 $42,030 $38,534 $31,700 $125,000 $16,700 $16,680 $12.63 $545/month $657/month $10.48 $8.03 $8.02 to Qualify for a Mortgage is calculated using the prevailing 2001 interest rate, assumes a 10 percent downpayment and includes and Hourly Wage data for selected occupations are from the Bureau of Labor Statistics, Occupational Employment Statistics Survey, 2001, Fair Market Rents and a or Apartment are from the National Low Housing Coalition, Out of Reach 2001, Note: 2001 Area Median figure for the was unavailable. The figure provided is from 2002 and was accessed at http://www.salary.com.

KANSAS CITY, MO-KS $37,596 Area Median (2001) $33,130 $32,150 $31,610 $118,000 $17,410 $18,170 $12.90 $10.71 $557/month $671/month $8.37 $8.74 to Qualify for a Mortgage is calculated using the prevailing 2001 interest rate, assumes a 10 percent downpayment and includes and Hourly Wage data for selected occupations are from the Bureau of Labor Statistics, Occupational Employment Statistics Survey, 2001, Fair Market Rents and a or Apartment are from the National Low Housing Coalition, Out of Reach 2001,

LAS VEGAS, NV-AZ Area Median (2001) $46,198 $45,260 $43,346 $145,000 $34,190 $22,990 $18,140 $15.06 $658/month $783/month $12.65 $8.72 $11.05 to Qualify for a Mortgage is calculated using the prevailing 2001 interest rate, assumes a 10 percent downpayment and includes and Hourly Wage data for selected occupations are from the Bureau of Labor Statistics, Occupational Employment Statistics Survey, 2001, Fair Market Rents and a or Apartment are from the National Low Housing Coalition, Out of Reach 2001, Note: 2001 Area Median figures for the and the were unavailable. The figures provided are from 2002 and were accessed at http://www.salary.com.

LOS ANGELES-LONG BEACH, CA $71,686 Area Median (2001) $225,000 $47,260 $46,610 $34,300 $17,630 $18,530 $15.83 $12.50 $650/month $823/month $8.48 $8.91 to Qualify for a Mortgage is calculated using the prevailing 2001 interest rate, assumes a 10 percent downpayment and includes and Hourly Wage data for selected occupations are from the Bureau of Labor Statistics, Occupational Employment Statistics Survey, 2001, Fair Market Rents and a or Apartment are from the National Low Housing Coalition, Out of Reach 2001,

MEMPHIS, TN-AR-MS Area Median (2001) $38,233 $41,710 $38,640 $120,000 $27,650 $17,530 $16,370 $517/month $9.94 $11.67 $8.43 $7.87 $607/month to Qualify for a Mortgage is calculated using the prevailing 2001 interest rate, assumes a 10 percent downpayment and includes and Hourly Wage data for selected occupations are from the Bureau of Labor Statistics, Occupational Employment Statistics Survey, 2001, Fair Market Rents and a or Apartment are from the National Low Housing Coalition, Out of Reach 2001,

WHAT IS HAPPENING IN YOUR AREA: MIAMI, FL Area Median (2001) $48,020 $130,000 $41,419 $42,169 $31,440 $16,740 $16,300 $15.02 $12.04 $626/month $781/month $8.05 $7.83 to Qualify for a Mortgage is calculated using the prevailing 2001 interest rate, assumes a 10 percent downpayment and includes and Hourly Wage data for selected occupations are from the Bureau of Labor Statistics, Occupational Employment Statistics Survey, 2001, Fair Market Rents and a or Apartment are from the National Low Housing Coalition, Out of Reach 2001, Note: 2001 Area Median figure for the was unavailable. The figure provided is from 2002 and was accessed at http://www.salary.com.

MIDDLESEX-SOMERSET-HUNTERDON, NJ Area Median (2001) $62,128 $61,780 $195,000 $47,430 $36,780 $17,930 $19,300 $802/month $15.42 $19.25 $17.68 $1,001/month $8.62 $9.28 to Qualify for a Mortgage is calculated using the prevailing 2001 interest rate, assumes a 10 percent downpayment and includes and Hourly Wage data for selected occupations are from the Bureau of Labor Statistics, Occupational Employment Statistics Survey, 2001, Fair Market Rents and a or Apartment are from the National Low Housing Coalition, Out of Reach 2001,

MILWAUKEE-WAUKESHA, WI Area Median (2001) $40,782 $46,360 $44,220 $35,780 $128,000 $17,080 $18,770 $12.65 $524/month $10.08 $8.21 $9.03 $658/month to Qualify for a Mortgage is calculated using the prevailing 2001 interest rate, assumes a 10 percent downpayment and includes and Hourly Wage data for selected occupations are from the Bureau of Labor Statistics, Occupational Employment Statistics Survey, 2001, Fair Market Rents and a or Apartment are from the National Low Housing Coalition, Out of Reach 2001,

MINNEAPOLIS-ST. PAUL, MN-WI Area Median (2001) $53,844 $48,760 $43,560 $169,000 $33,110 $18,360 $20,280 $16.58 $15.92 $12.96 $674/month $8.83 $9.75 $862/month to Qualify for a Mortgage is calculated using the prevailing 2001 interest rate, assumes a 10 percent downpayment and includes and Hourly Wage data for selected occupations are from the Bureau of Labor Statistics, Occupational Employment Statistics Survey, 2001, Fair Market Rents and a or Apartment are from the National Low Housing Coalition, Out of Reach 2001,

MONMOUTH-OCEAN, NJ Area Median (2001) $66,461 $61,860 $208,600 $44,040 $36,160 $17,540 $20,690 $18.81 $17.39 $14.83 $771/month $978/month $8.43 $9.95 to Qualify for a Mortgage is calculated using the prevailing 2001 interest rate, assumes a 10 percent downpayment and includes and Hourly Wage data for selected occupations are from the Bureau of Labor Statistics, Occupational Employment Statistics Survey, 2001, Fair Market Rents and a or Apartment are from the National Low Housing Coalition, Out of Reach 2001, Note: 2001 Median Home Price was unavailable from the National Association of Home Builders, Housing Opportunity Index. The figure provided is from Median Sales Price Home (New and Existing) data from the National Association of Realtors and can be accessed at http://www.realtor.org/research.nsf/files/medianmsa98-01.pdf/$file/medianmsa98-01.pdf.

NASHVILLE, TN Area Median (2001) $43,649 $137,000 $31,980 $32,370 $32,890 $17,480 $17,360 $12.69 $10.29 $535/month $8.41 $8.35 $660/month to Qualify for a Mortgage is calculated using the prevailing 2001 interest rate, assumes a 10 percent downpayment and includes and Hourly Wage data for selected occupations are from the Bureau of Labor Statistics, Occupational Employment Statistics Survey, 2001, Fair Market Rents and a or Apartment are from the National Low Housing Coalition, Out of Reach 2001,

NASSAU-SUFFOLK, NY Area Median (2001) $70,630 $57,349 $57,880 $180,000 $38,840 $17,720 $20,860 $23.65 $19.38 $18.67 $1,008/month $1,230/month $8.52 $10.03 to Qualify for a Mortgage is calculated using the prevailing 2001 interest rate, assumes a 10 percent downpayment and includes and Hourly Wage data for selected occupations are from the Bureau of Labor Statistics, Occupational Employment Statistics Survey, 2001, Fair Market Rents and a or Apartment are from the National Low Housing Coalition, Out of Reach 2001,

NEW ORLEANS, LA Area Median (2001) $36,640 $36,040 $115,000 $25,380 $28,410 $15,010 $13,890 $12.25 $12.20 $9.85 $512/month $637/month $7.22 $6.68 to Qualify for a Mortgage is calculated using the prevailing 2001 interest rate, assumes a 10 percent downpayment and includes and Hourly Wage data for selected occupations are from the Bureau of Labor Statistics, Occupational Employment Statistics Survey, 2001, Fair Market Rents and a or Apartment are from the National Low Housing Coalition, Out of Reach 2001,

WHAT IS HAPPENING IN YOUR AREA: NEW YORK, NY $55,756 Area Median (2001) $49,598 $47,499 $175,000 $34,720 $26,930 $16,780 $19.10 $16.81 $16.69 $874/month $12.95 $993/month $8.07 to Qualify for a Mortgage is calculated using the prevailing 2001 interest rate, assumes a 10 percent downpayment and includes and Hourly Wage data for selected occupations are from the Bureau of Labor Statistics, Occupational Employment Statistics Survey, 2001, Fair Market Rents and a or Apartment are from the National Low Housing Coalition, Out of Reach 2001, Note: 2001 Area Median figures for the and the were unavailable. The figures provided are from 2002 and were accessed at http://www.salary.com.

NEWARK, NJ Area Median (2001) $60,854 $59,030 $191,000 $44,100 $39,050 $19,270 $17,280 $17.56 $758/month $14.58 $913/month $9.26 $8.31 to Qualify for a Mortgage is calculated using the prevailing 2001 interest rate, assumes a 10 percent downpayment and includes and Hourly Wage data for selected occupations are from the Bureau of Labor Statistics, Occupational Employment Statistics Survey, 2001, Fair Market Rents and a or Apartment are from the National Low Housing Coalition, Out of Reach 2001,

NORFOLK-VIRGINIA BEACH-NEWPORT NEWS, VA-NC $39,826 Area Median (2001) $125,000 $35,220 $34,540 $26,680 $15,980 $15,340 $12.54 $10.62 $552/month $652/month $7.68 $7.37 to Qualify for a Mortgage is calculated using the prevailing 2001 interest rate, assumes a 10 percent downpayment and includes and Hourly Wage data for selected occupations are from the Bureau of Labor Statistics, Occupational Employment Statistics Survey, 2001, Fair Market Rents and a or Apartment are from the National Low Housing Coalition, Out of Reach 2001,

OAKLAND, CA $108,326 Area Median (2001) $340,000 $66,810 $48,960 $44,210 $19,230 $22,430 $23.90 $23.54 $19.06 $21.26 $991/month $1,243/month $9.24 $10.79 to Qualify for a Mortgage is calculated using the prevailing 2001 interest rate, assumes a 10 percent downpayment and includes and Hourly Wage data for selected occupations are from the Bureau of Labor Statistics, Occupational Employment Statistics Survey, 2001, Fair Market Rents and a or Apartment are from the National Low Housing Coalition, Out of Reach 2001,

OKLAHOMA CITY, OK Area Median (2001) $36,980 $29,312 $30,920 $26,300 $92,000 $17,080 $15,480 $10.88 $436/month $8.38 $8.21 $7.44 $566/month to Qualify for a Mortgage is calculated using the prevailing 2001 interest rate, assumes a 10 percent downpayment and includes and Hourly Wage data for selected occupations are from the Bureau of Labor Statistics, Occupational Employment Statistics Survey, 2001, Fair Market Rents and a or Apartment are from the National Low Housing Coalition, Out of Reach 2001,

ORANGE COUNTY, CA $93,670 Area Median (2001) $294,000 $63,890 $45,710 $36,370 $17,470 $16,930 $21.10 $887/month $17.06 $17.48 $1,097/month $8.40 $8.14 to Qualify for a Mortgage is calculated using the prevailing 2001 interest rate, assumes a 10 percent downpayment and includes and Hourly Wage data for selected occupations are from the Bureau of Labor Statistics, Occupational Employment Statistics Survey, 2001, Fair Market Rents and a or Apartment are from the National Low Housing Coalition, Out of Reach 2001,

ORLANDO, FL Area Median (2001) $40,144 $35,620 $37,110 $29,970 $126,000 $16,310 $16,100 $13.73 $11.52 $599/month $714/month $7.84 $7.74 to Qualify for a Mortgage is calculated using the prevailing 2001 interest rate, assumes a 10 percent downpayment and includes and Hourly Wage data for selected occupations are from the Bureau of Labor Statistics, Occupational Employment Statistics Survey, 2001, Fair Market Rents and a or Apartment are from the National Low Housing Coalition, Out of Reach 2001,