Housing Out of Reach for Hoosiers
A new report shows that rent increases in Indiana are outpacing wage gains.
Full-time Hoosier workers need to earn $19 per hour to afford a modest, two-bedroom apartment at fair market rent. This is Indiana’s 2023 “Housing Wage,” according to a report published by the National Low Income Housing Coalition (NLIHC) and Prosperity Indiana.
The report finds that inflated rent in Indiana has fueled the increase in the state’s Housing Wage — the amount needed to afford housing costs. These increases have erased any gains in Hoosier renters’ wages, which remain persistently far below the Midwest average.
Among other Indiana regions, Bloomington/Monroe County is the most expensive, requiring a Housing Wage of $21.62, according to the report.
The report also finds that while the Housing Wage needed to afford a modest two-bedroom home in Indiana increased by 12% over the past year, the average Hoosier renter’s wage increased by only 7.5%.