How the Cost of Housing Impacts Many Connecticut Families
In Connecticut, 1-in-4 households have earnings that exceed the Federal Poverty Level (FPL) but fall short of a basic cost of living threshold. We call these households ALICE—an acronym for Asset Limited, Income Constrained, Employed, and together with the 10% of Connecticut households in poverty, more than one-third of Connecticut households (35%) are struggling to make ends meet.
In the Connecticut ALICE Report, the estimated cost of housing for a family of four in the Household Survival Budget is $1,143 per month, which is based on the statewide average HUD fair market rent for a 2 bedroom apartment. As a percentage of the survival budget, housing comprises 21% of expenses.
Our new ALICE update on Housing highlights the cost of housing in Connecticut and the tremendous burden in puts on ALICE families....