This Hudson Valley County Has a Shockingly Low Average Hourly Wage
If you were wondering why some people in the Hudson Valley may not be too excited about getting off of government assistance this might be one of the reasons.
There seems to be a misconception going around in the Hudson Valley. Many believe that the recent lack of affordable housing began as a result of the COVID-19 pandemic. Many people from the city flocked to the Hudson Valley region during the pandemic paying way above market value and drove the prices up for local residents. That did happen but we would be a little naive to think that there wasn't an issue before the coronavirus outbreak.
When was the last time the Hudson Valley was an affordable place to live? What does the word 'affordable' even mean around here?
It has been expensive to live in the Hudson Valley ever since I moved here over 4 years ago. Rent has definitely gone up recently but it's been over $1,000 for a decent one-bedroom apartment for years. If you shop on your local Facebook Marketplace you'll see one-bedroom units for rent from anywhere from $1,200 to $1,500 a month.
Do people make enough money to afford such rates?
Apparently not in Rockland County. According to Westchester and Fairfield County Business Journals, the average hourly income for someone in Rockland County who rents is just over $12. That's about $1,920 before taxes. They also report that the average two-bedroom unit is over $2,000 a month.
Is homeownership just a dream for many residents in the Hudson Valley?