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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