Family For Rent (2015)
Forty-year-old Paul-André is a timid, rather introverted man. Rich but alone, he is deeply bored and ends up concluding that what he needs is a family. Violette, a forty-year-old full of energy, is threatened with eviction and is afraid she'll lose custody of her two children. Paul-André then proposes a totally above the board contract to rent the family in exchange for him paying off Violette's debts. For better and for worse..
Family for Rent (2015)
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I was ready to genuinly like this one. I was personally curious as how they would do the story, if this was going to be a "fifty shades of family-envy" or something. Also I love Virginie Efira so I'll watch anything she's in.
In rental projects with five or more HOME-assisted rental units, twenty (20) percent of the HOME-assisted units must be occupied by very low-income families and meet one of following rent requirements:
The size of a family dramatically affects the budget needed to maintain a secure yet modest standard of living. We have constructed budgets for 10 different types of families in each area. These families include a single person with no children; a married couple with no children; single-parent families with one, two, three, or four children; and a married couple with one, two, three, or four children.
Our definition of a single person with no children assumes that he or she is employed and is the head of household for federal income tax purposes. Our definition of a married couple with no children assumes both are employed, live together, and jointly file federal income taxes. Our definition of single-parent families assumes that the head of household is employed, lives with his or her children, and files as the head of household for federal income tax purposes. Our definition of two-parent families assumes that both partners are employed, live together with their children, and jointly file federal income taxes.
The 2015 EPI Family Budget Calculator presents data for 618 areas. Of these, 48 are statewide averages of rural areas; Rhode Island, New Jersey, and the District of Columbia do not have rural areas. Among the remaining 570 family budget areas, 485 are non-overlapping metropolitan statistical areas. Thirty-nine metropolitan areas cross state lines and generate 85 family budget areas to account for state-based variance within metropolitan areas.
A metropolitan statistical area (MSA) is defined by the Office of Management and Budget (2009) as having at least one urbanized area of 50,000 or more people, plus adjacent territory that has a high degree of social and economic integration with the core, as measured by commuting ties. Some of our data (those pertaining to housing) require us to use fair market rent (FMR) areas. FMR areas are published by the U.S. Department of Housing and Urban Development (HUD 2014a). They are divided into metropolitan FMR areas and nonmetropolitan FMR areas.
Since most metropolitan FMR areas correspond to an MSA, where possible we replaced metropolitan FMR areas with the corresponding MSAs in the list of family budget areas. Those without corresponding MSAs remain in the list of family budget areas as metropolitan FMR areas. The remaining nonmetropolitan FMR areas were labeled as non-MSA. The rural areas were also labeled as non-MSA. When regional breakdowns were used for budget calculations, they were based on the Census Bureau regions, per data availability (U.S. Census Bureau 2013).
The 2015 EPI family budgets consist of seven individual components: rent, food, transportation, child care, health care, taxes, and other items of necessity. The following sections describe the methodology used to construct a monthly cost for each of these seven components across the 618 areas.
HUD makes rental rates available for studio apartments and one-bedroom through four-bedroom apartments. The EPI family budgets assume that a one-person household uses a studio and a two-person household uses a one-bedroom apartment. Families with one or two children use the two-bedroom rate. Families with three or four children use the rate for a three-bedroom unit. Rental costs include shelter plus all tenant-paid utilities, excluding telephone service, cable or satellite service, and Internet service.
We use cost estimates for center-based child care in the 570 MSAs. We chose center-based care because it is more regulated than family care, and because the costs of center care do not fluctuate as much as the costs of family care.
The family budgets do not include infant care in their child care costs because we do not have an infant as part of any family type. It should be noted, however, that infant center care is significantly more expensive than 4-year-old center care, so the child care component for some families may be underestimated.
We assume that everyone has private health insurance (defined by the variable PRIV12). Out-of-pocket medical expenditures are calculated for adults and children separately by region and are differentiated between MSAs and non-MSAs for those covered by private insurance (HHS 2014). Costs are estimated as follows:
The health care methodology of the 2015 Family Budget Calculator differs from that of previous editions because it reflects changes to the private market for health insurance and the creation of state-based health insurance exchanges. These changes are one of the main reasons why the 2015 family budgets are not comparable to earlier family budgets.
In the current edition, we calculate premiums based on the lowest-cost bronze plan and calculate out-of-pocket expenditures based on estimates for all types of private insurance, both employer-sponsored and non-group insurance.
As aforementioned, it is not accurate to simply input the post-tax family budgets as the wage incomes and use the TAXSIM output as the tax rates. To correct for this, we input the post-tax family budgets and obtained the tax rates and established these as a lower floor for tax rates (because the pre-tax incomes will almost always be higher than these post-tax incomes, these tax rates must be lower given our assumptions about sources of income and the income ranges we are considering). We then established an upper bound of tax rates by taking the post-tax family budget and multiplying it by 1.25 and inputting these budgets into the TAXSIM model.
The final tax rate calculated in step nine is then applied to the post-tax family incomes [post-tax family budget * (1 + final weighted tax rate)], to obtain a pre-tax income. The difference between the pre- and post-tax incomes is the annual tax bill for the family budget unit. This annual tax bill is then adjusted for inflation to 2014 dollars using the regional breakdowns of the Consumer Price Index-Research Series Using Current Methods (CPI-U-RS) from the Bureau of Labor Statistics (BLS 2014c).
Housing costs are a severe financial burden to many low-income families. The typical renter in the bottom quintile of the income distribution spends more than half of monthly income on rent and has less than $500 dollars left after paying rent. Moreover, the percent of income that this group spends on rent has risen about 10 percentage points since 2000. How much income it takes to cover rent or mortgage payments can affect the economic well-being and financial stability of families.2 When households devote a large share of income to rent, an unexpected shortfall in income may leave them unable to pay rent and could lead to eviction. Moreover, households that have little income left after paying rent may not be able to afford other necessities, such as food, clothes, health care, and transportation. The large share of income required for housing also limits the ability to save and accumulate wealth.
To assess the rent burden on families, we analyze housing expenditures of renters using the American Community Survey (ACS) Public Use Microdata Sample (PUMS). Consistent with the U.S. Department of Housing and Urban Development (HUD), we define "rent burdened" as spending more than 30 percent of income on housing and "severely rent burdened" as more than 50 percent. We also compare the amount of income left after housing costs (or "residual income") to the Supplemental Poverty Measure.3 Recognizing that most renters in the upper 80 percent of the income distribution are not rent burdened, we primarily focus on those renters in the bottom quintile. The typical low-income renter faces severe rent burden, and this burden is largely similar across geographies. Additionally, low-income renters with children under age 18 face particularly high rent burdens and low "residual incomes," while older renters have somewhat lower rent burdens.
The median renter in the lowest income quintile pays 56 percent of monthly income on rent, exceeding HUD's standard for "severe rent burden" (Figure 1). Severe rent burdens are generally not present among renters with income above the lowest quintile. In the second quintile of income, the median rent-to-income ratio is 28 percent, slightly below HUD's "rent burden" standard. The median renter household in each of the higher income quintiles spends less than 20 percent of their income on rent. Even though the typical higher-income renter is not rent burdened, some higher-income renters do pay large shares of income on housing.
Notes: Calculations using 2015 ACS PUMS data. Median values by income quintile for renter households in 2015. Income quintiles are defined by local income. All rent and income results exclude homeowners and those who do not pay cash rent. Rent is based on the contract rent for the housing unit. Income is the pre-tax, post-cash-transfer income of the household.
To determine the sufficiency of income left after paying rent, we use the non-housing portion of the Supplemental Poverty Measure (SPM) thresholds.4 In 2015, the SPM estimated that a family of four on the border of poverty would have needed just under $1400 per month to cover non-housing expenses. The median monthly income after rent for the lowest-income renters is only one third of this amount. The median renter in the second income quintile has income left after rent that is 140 percent of the non-housing poverty threshold. 041b061a72