New Data Reveals Extent of Burdensome Rental Costs in Salisbury

Average Rental Cost Rises by Over $100/month, from $955 to $1,076

Salisbury – Mayor James Ireton, Jr. announced today that recently-released data from the U.S. Census Bureau further demonstrates the necessity for a rent stabilization program in Salisbury. This new data shows that Salisbury’s renting costs are not only $100 higher than the national median, but are among the highest in comparison to cities its own size.

The U.S. Census Bureau recently released its first 2014 estimates for certain geographic areas. According to this new data, Median Gross Rent in Wicomico County rose by over $100 between 2013 and 2014, from $955per month to $1,076. This means that as of 2014, half of all renters in Wicomico County are paying over$1,076 per month for rent and utilities. *1/3 of Wicomico Count Residents live within the City of Salisbury, and more than half of Wicomico County rental stock is within Salisbury City limits. Median Contract Rent rose from $761 in 2013 to $810 in 2014. By comparison, median gross rent for the entire country rose by only $29 from $905 to $934, well within normal inflationary expectations. Salisbury-specific data for 2014 has not yet been released*, but in 2013, Median Gross Rent in Salisbury was $994/month. (*Salisbury data is expected to be released in early December.)

•Salisbury’s median contract rent ranks 33rd (top 13%), and utility costs among renting households ranks 13th (top 5%). By comparison, Salisbury’s Median Household Income ranks 163rd and Median Value of Owner-Occupied Homes ranks 112th.

•In comparison to 250 cities (POP – 30 to 150K) from across the country, Salisbury’s median gross rent, which includes rent and utilities, ranked 19th, in the top 8% of these cities.

•The city closest to Salisbury in gross rent is Hilton Head, North Carolina, where median home values are over $400,000.

•As of 2014, 53% of renting households in Wicomico County are paying over 30% of their income towards housing costs, up from 47.6% in 2013. Those households which are severely cost burdened, i.e., paying over half their income towards renting costs, rose from 3,600 households (25.6%) to 4,000 households (28.2%).

“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 2nd of the month,” said Mayor Ireton. “When rents in Salisbury are as high as communities with median home values of $200,000, $400,000, and even $600,000, it is unmistakable that a rent stabilization program is necessary. I look forward to presenting this data to the Salisbury City Council at the October 5, 2015 work session at City Hall.”