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4 <br />Affordable Housing Needs at a Glance <br />The data presented below demonstrate that affordable owner-occupied and rental <br />housing for very-low income (~ 30% of median income); low-income (30%-50% of <br />median income); and moderate-income (51 %-80% of median income) working families <br />has become increasingly less accessible in recent years. In addition, the current pace <br />of affordable housing construction, maintenance, and rehabilitation is dramatically <br />lagging behind the growing need. This is especially true for affordable rental units. <br />- There are approximately 44,854 households in Orange County, 58% owners and 42% <br />renters. <br />Ri~NTAL HOUSING <br />- Of a total 18,839 rental households, approximately 6,697 are paying snore than 30% <br />of their income for housing costs and 4,455 households are paying more than 50% of <br />their income for monthly housing costs. <br />Rental Households <br />Pay mare <br />than 30% <br />income for <br />rent <br />Other rental <br />households <br />36% <br />64% <br />Source: Karnes Research Company <br />- The Housing Wage in Orange County is $14.52, higher than the North Carolina wage <br />of $l 0.l b. This is the amount a worker would have to earn per hour in order to be <br />able to work 40 hours per week and afford atwo-bedroom unit at the area's Fair <br />Market Rent (FMR). The current FMR is 282% of the present minimum wage ($5.15 <br />per hour] or 172% of the Orange County liwina wage ($8.451. <br /> H ousin Wa e <br />Location Hourly Wage, Needed to Percent As % of Minimum Wage <br /> Afford Change ($5.15/hr.) <br /> @ 40 hrs./wk. in 2BR <br /> One BR Two BR Three Housing One BR Two BR Three <br /> FMR FMR BR FMR Wage FMR FMR BR FMR <br /> (1999- <br /> 2000 <br />North $8.60 $10.1 b $13.58 1.80% 167% 197% 264% <br />Carolina <br />