How Affordable is Housing in Pennsylvania?
Not at all, according to the latest analysis from the Philly Fed.
The vast majority of lower-income households in Pennsylvania, New Jersey and Delaware spend more than the conventionally-advised one third of income on housing.
That's the primary takeaway form the Federal Reserve's Philadelphia office housing affordability analysis released Tuesday.
Fed researchers looked at U.S. Census housing cost and availability for low-income, very-low income and extremely low-income renters in 2012 in the Federal Reserve's Third District and its component states (New Jersey, Delaware, Pennsylvania) and Metropolitan Statistical Areas (Dover, Trenton, Atlantic-City-Hammonton, York-Hanover, Harrisburg-Carlisle, State College, Lebanon, Reading, Allentown-Bethlehem-Easton, Erie, East Stroudsburg, Pittsburgh, Philadelphia-Camden-Wilmington and Lancaster), and the city of Philadelphia.