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Housing Costs Burden Island Residents, Study Says

"Market rents are not only well beyond lower wage earners, but are also too high for those earning even at median income," according to a study of housing costs on Martha's Vineyard.

To longtime Island residents, it's no surprise that a detailed study shows housing prices here are out of control.

According to a draft housing needs assessment report from the Martha's Vineyard Commission,

  • The Island’s average weekly wage was 71% of the state average, the median home price was 54% above the state’s and the median rent exceeded the state’s by 17%.
  • Market rents are not only well beyond lower wage earners, but are also too high for those earning even at median income.
  • Consequently renters pay far too much for their housing and may become virtually homeless during the summer given the seasonal competition for limited units.

At a Public Forum tonight in Chilmark, consultant Karen Sunnarborg will present these and other key findings from the housing study and outline the next steps for the study.

It begins at 6:30 at the Chilmark Free Public Library, 522 South Rd, Chilmark.

Have you been a renter on Martha's Vineyard? Tell us in the comments.

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