TIPPECANOE COUNTY — Minimum wage workers need two full-time jobs to afford a two-bedroom apartment in Lafayette and West Lafayette, according to a new report.
To spend 30 percent or less of income on housing, renters here must earn $15.90 per hour, according to "Out of Reach 2017," an annual report by the National Low Income Housing Coalition.
That's more than double Indiana's minimum wage and nearly $3 per hour more than a renter's average pay in Tippecanoe County, according to the report.
"Housing is unaffordable for those who make the least in our society," said Andy Faizer, executive director of Prosperity Indiana, an Indianapolis-based economic development group.
The "housing wage" is based on the fair market rent for a two-bedroom apartment in the area — $827 per month — established annually by the U.S. Department of Housing and Urban Development.
The housing wage in Greater Lafayette is the fifth highest in the state, outranked by Indianapolis/Carmel, Columbus, Gary and Bloomington.
"One of the reasons that we have always had higher rents is because of Purdue University," said Marie Morse, executive director of HomesteadCS, a Lafayette non-profit focused on housing consulting and assistance. "Their students take up a lot of housing ... So it's simply supply and demand."
Housing wages in surrounding counties range from as low as $12.81 per hour in Carroll and White counties and as high as $15.90 per hour in Benton County.