November 21, 2014
A city like Reno, with homes once thought of as reasonably affordable, has now become almost too expensive for its inhabitants to afford.
The median price of a home in the United States rose twenty percent in the last year and a half to 225,000. But the Center for Housing Policy found that nationwide, most low to middle income job wages have remained flat. Firefighters, for example, haven't seen much of a salary increase and remain at thirty seven thousand. Nurses saw a ten percent salary increase to thirty-six thousand.
According to the Center for Housing Policy, Reno's median priced home is 289,000. To afford that, experts say you'd need to earn more than 91-thousand dollars a year. But, so many people in the community fall short of that: teachers and police officers, less than half that.