KTVN Channel 2 - Reno Tahoe News Weather, Video - Report: Washoe County Gets ‘D’ for Affordable Housing
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A new housing market report is giving Nevada low marks for affordable housing. It says a minimum wage earner in the state needs to work three jobs to pay rent.
The Colorado College study says from 2003 to 2007 wages in Nevada rose only 3.5% while housing costs rose 20%.
The report gave Washoe County a D for affordable housing. It also says just 21.2% of the homes in the Reno Sparks area are affordable for people who made a median income.
State officials call the results of this report expected since the data was collected during the peak of the housing bubble.
