This might be considered an interesting statistic … if you live in Kansas … and if you don’t need to find housing here. Average income in the state stands at about $56,000 for 99 percent of the population; the other one percent earns 42 times more. According to Zillow, the median price of homes currently listed in Connecticut is $290,000, and the median rent price in Connecticut is $1,690. That puts a major dent in an average earner’s monthly disposable income and, in fact, has resulted in many families being unable to live where they work.
Liberty Bank Foundation’s grantee, Local Initiatives Support Corporation, is doing something about it! LISC provides technical assistance to local nonprofits working on small-scale developments in suburban and rural areas. Part of the work is helping towns that once rejected affordable housing begin to see how the integrity and strength—even the survival—of their communities depend on it, and how everyone can win.