Triangle rents at record highs

LIGHT FOR MIXING AND MATCHING.

>>> RENT HERE IN THE TRIANGLE

IS AT AN ALL-TIME HIGH.

YOU HAVE TO MAKE MORE THAN

$60,000 A YEAR TO AFFORD MOST

TO BEDROOM AND TWO BATH

APARTMENTS IN RALEIGH.

THE MEDIAN PRICE FOR A TWO

BEDROOM APARTMENT $1500 PER

MONTH.

THE DATA SUPPORTS THE COST OF

THE APARTMENT IN THE TRIANGLE

GOING UP.

EXPERT EXPECTED TO CONTINUE.

>> STEPHANIE HUTCHINS TELLS ME

SHE CAN BARELY MAKE IT.

SHE LOST HER PREVIOUS HOME

BECAUSE SHE COULDN'T AFFORD IT.

>> IT WAS TOO HIGH ON THE RENT

AND WE COULDN'T AFFORD THE

RENT.

WE WENT TO A HOMELESS

SHELTER.>> RENT COSTS ARE UP.

ACCORDING TO APARTMENT LIST,

IT'S UP 22.1% FROM LAST YEAR.

HE SAYS AFFORDABLE PLACES ARE

NOT ALWAYS EASY TO FIND OUT

THERE.

THE COST OF BUYING A HOUSE IS

ALSO UP.

>> WHAT IS MY OPTION IN THE

RENTAL MARKET?>> THE HARDEST

HIT PEOPLE ARE ON THE LOWER END

OF THE WAGE SCALE.

SHE HEARS SOME HEARTBREAKING

STORIES.

>> IF YOU MAKE MINIMUM WAGE AND

WORK A REGULAR WORKWEEK, EVEN

IF YOU PUT EVERY PENNY TOWARDS

AFFORDING A MEDIAN PRICE TWO

BEDROOM APARTMENT, YOU WOULD

STILL BE MORE THAN $250 SHORT

EACH MONTH.

AND WE ARE UNLIKELY TO SEE IF

STABILIZATION OR A DECREASE IN

THE COMING MONTHS.

>>> A PARTICULARLY TOUGH TIME

RIGHT NOW.

THE MORATORIUM ON EVICTIONS

ENDED BACK IN AUGUST.

A LOT OF PEOPLE ARE LOOKING FOR

RENTAL ASSISTANCE.

OFFICIALS WITH WADE COUNTY WHO

WORKED WITH THE RENTAL

ASSISTANCE PROCESS TOLD MANY

PEOPLE ARE ALREADY FOUR MONTHS

BEHIND ON THE RENTAL PAYMENTS.

>>> HOW MUCH MONEY DO YOU NEED

TO MAKE FOR MONEY OUR?

THE 2021 OUT OF REACH REPORT

DOES THE MATH ZIP CODE.

YOU NEED TO MAKE AT LEAST $20

AN HOUR TO AFFORD THE STANDARD

APARTMENT.

NORTH RALEIGH HOVERED BETWEEN

24 AND 26, DOWNTOWN RANGES FROM

20 TO 25 AN HOUR.

THE MOST EXPENSIVE IN THE AREA