In an economically unstable time, maintaining and managing finance is not an easy task. Luxuries aside, for many, even the bare necessities have become quite expensive to afford. This has caused many people to seek government assistance in one way or another. One of the most common forms of assistance is housing. Thomas J Powell points out that the problem with this is that there are not enough homes to go around for those who need them. According to the National Low Income Housing Coalition, “In order to afford a modest two-bedroom apartment at the fair market rent, a full-time worker must earn an hourly wage of $17.14, more than two and a half times the federal minimum wage of $7.25.”
As if this wasn’t bad enough, “Texas also has the dubious distinction of having some of the nation’s least affordable housing markets.” So what does this mean for Texas?
Thomas J Powell Explains the Workforce Housing Situation In Texas
There is a serious housing crisis in Texas that is only getting worse as time goes on. The lack of affordable housing is having a major impact on the state’s economy, with businesses struggling to attract and retain workers. The issue has also been linked to an increase in homelessness, as people are forced to live in their cars or on the streets because they cannot afford rent.
The situation is particularly dire in Houston, where the average rent for a one-bedroom apartment is $1,380 per month. This is far out of reach for many people, especially those who are working minimum wage jobs. In fact, a person would need to earn $27 per hour just to afford rent – more than three times the minimum wage.
Problems Caused By Lack of Housing
The lack of affordable housing is also having an impact on the state’s economy. Businesses are struggling to attract and retain workers as they cannot afford to live in the communities where they work. This is leading to a shortage of skilled labor, as people are forced to move to other states where housing is more affordable.
The situation is expected to continue to worsen in the coming years as the population of Texas continues to grow. Unless something is done to address the lack of affordable housing, many people will be left struggling to make ends meet.
If you’re struggling to afford rent in Texas, there are a few things you can do. You can search for government assistance programs or charities that may be able to help you with rent or utility bills. You can also try to negotiate with your landlord for lower rent payment. Finally, you can look for roommate situations where you can split the cost of rent and other expenses.
Bottom Line
Thomas J Powell points out that no matter what your situation is, it’s important to reach out for help if you’re struggling to make ends meet. There are many resources available to those who need assistance with housing costs, and there is no shame in asking for help. The first step is reaching out and admitting that you need assistance. From there, you can start working on a plan to get back on your feet.