3 ms·
I think it's funny we're saying someone who can't afford $50k/year in rent is 'lower middle class.' If you keep your housing costs below 25% of gross income (a
by ryandamm 11y ago
I think it's funny we're saying someone who can't afford $50k/year in rent is 'lower middle class.' If you keep your housing costs below 25% of gross income (a common recommendation), then anyone earning less than $200k annually is lower middle class.
To be fair, the article says Darcel Jackson had also lost his job due to a medical condition; so it's not just the rent increase... but a professional welder (his profession before a stroke) should pay high five figures to low six figures.
So yeah... a city where welders, teachers [1], and other professionals and tradeworkers can't afford to live is doing something wrong.
[1]from Redfin research: https://www.redfin.com/blog/2014/02/california-home-affordability-for-teachers.html https://www.redfin.com/blog/2014/02/california-home-affordab...