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Published On: 10/1/15

Stats Support Need For Mayor’s Rent Stabilization Effort

By: DispatchAdmin via Maryland Coast Dispatch

SALISBURY — One week after announcing his proposed ambitious rent stabilization program, Salisbury Mayor Jim Ireton, Jr. this week pitched daunting statistics from the U.S. Census Bureau to support the measure.

Ireton said on Wednesday the new data recently released from the U.S. Census Bureau further demonstrates the necessity for a rent stabilization program in Salisbury. The data shows Salisbury’s rental costs are not only $100 higher than the national median, but are among the highest in the nation in comparison to cities of the same size.

According to recently released data, the median gross rent in Wicomico rose by over $100 between 2013 and 2014, from $955 per month to $1,076 per month. It’s important to note the Census Bureau data is for Wicomico Count at general, although one third of the county’s population lives in Salisbury and one half of the county’s rental stock is in Salisbury city limits. Salisbury-specific data is expected to be released later this year.

Median contract rent in Wicomico rose from $761 in 2013 to $810 in 2014. By comparison, the median gross rent for the entire country rose by only $29 from $905 to $934, well within normal inflationary expectations. However, in Wicomico, the median rent costs accelerated at a much faster rate. For example, Salisbury’s median contract rent ranks 33rd in the nation for a city of its size, which points it in the top 13 percent. Similarly, utility costs for renting households ranked 13th, which put it in the top five percent.

By comparison, Salisbury’s median household income ranks 163rd and the median value of owner-occupied homes ranks 112th. In a comparison of 250 cities of similar size from around the country, from 30,000 to 150,000, Salisbury’s median gross rent, which includes rent and utilities, ranked 19th, which put it in the top eight percent. The city in the survey closest to Salisbury in median gross rent was Hilton Head, S.C., where the median homues are over $400,000.

As of 2014, roughly 53 percent of the renting households in Wicomico are paying over 30 percent of their income toward housing costs, which is up from 47 percent in 2013. Those households which are severely rent-burdened are paying over half of their income toward housing costs including rent and utilities.

“All of these numbers further support my recent proposal for a rent stabilization program in Salisbury, as we now know that even less money is left over on the second day of the month,” Ireton said. “When rents in Salisbury are as high was communities with median homues of $200,000, $400,000 and even $600,000, it is unmistakable that a rent stabilization program is necessary.”

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