Studies and research conducted around the globe show that homelessness is rooted in poverty and the lack of affordable housing.

The Prevalence of Poverty

According to the latest report issued by the US Department of Labor, 7.8 million Americans are classified as "working poor," living at or below the official poverty threshold.

• A majority of the working poor (58.3%) hold full-time jobs
• The proportion of workers classified as working poor is highest for those employed in service occupations
• Families with minor children are four times more likely to live in poverty or to be among the working poor

While Indian River County has a number of wealthy retirees, the workforce itself is largely service-oriented. Our top four private employment industries pay average wages at less than what is considered necessary to obtain affordable housing in the local market.

One does not have to be living at the official poverty threshold to feel the squeeze of today's volatile economy.

The Lack of Affordable Housing

In Indian River County, fair market rent for a modest apartment is $734. In order to afford this level of rent, a worker must earn $2,247 monthly. Assuming a 40-hr work week, 52 weeks per year, this level of income translates into a housing wage of $14.12.

In Indian River County, the average wage for a renter is $10.22. In order to afford a modest apartment, the average renter must work 55 hours per week, 52 weeks per year.

With resources stretched to the limit, even a minor setback can be disasterous for our teachers, firefighters, child care providers, restaurant servers, nursing assistants...

Monthly rent affordability:

A modest apartment at fair market rent costs:	$734
An average renter can afford	$532
An extremely low income household can afford	$416
A minimum wage earner can afford	$333
An SSI recipient can afford	$181

www.IAmTheSource.org ~ 772-564-0202
Hope for the homeless, poor and needy. copyright 2008