Need for Housing
In Essex County, a family earning the area median income cannot afford to buy a median-priced home.
In order for a home to qualify as affordable, a household should not be spending more than one-third of its income on housing costs, including utilities. In our region, approximately 44% of renters are paying more than 30% of their income on rent, and 22% of low-income households have to spend over 50% of their earnings on housing.
Massachusetts is the third most expensive state in the nation for housing.
The availability of quality affordable housing is extremely important for the health and success of individuals and families across the North Shore. Housing condition and stability have been closely tied to a number of other issues, including the health of families, the ability to retain employment, and the academic performance of children.