By Cara Baruzzi, Register Business Editor

Despite the recent drop in home prices and huge amounts of federal money being spent to jump-start the economy, some of the jobs being created through the federal government’s stimulus package do not pay workers enough to afford housing in many parts of the country, according to a new study.

The study, released Thursday and titled “Paycheck to Paycheck: Wages and the Cost of Housing in America,” examined homeownership and rental costs and whether they are affordable to workers.

The report focused on five occupation fields expected to grow as a result of the federal stimulus program: construction managers, carpenters, equipment operators, long-haul truck drivers and construction laborers.

The study was released by the Center for Housing Policy, in Washington, D.C., the research affiliate of the National Housing Conference. It examined 208 metros nationwide for home affordability and 210 rental markets.

“Contrary to popular belief, the recent decline in home prices has not resolved the nation’s housing affordability problems,” Jeffrey Lubell, executive director of the Center for Housing Policy, said in a statement.

“Working families, including most of the workers who will be hired as a result of federal spending in the stimulus package, still cannot afford to buy a home in most markets, and many also struggle to afford their rents.”

Of the five job sectors highlighted in the report, construction laborers fared the worst. With wages averaging in the mid- to high $20,000s annually, they were priced out of homeownership in 196 metros, and renting a two-bedroom apartment was unaffordable in 161 metros.

Long-haul truck drivers, earning in the high $30,000s, were priced out of owning a house in 174 metros and renting in 57.

Equipment operators, with incomes averaging in the high $30,000s to low $40,000s, were priced out of 52 rental markets and 173 metros when it came to owning a home.

Carpenters, earning salaries in the low to mid-$40,000s, can’t afford to own a home in 157 metros or rent in 27. Continued...

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Construction managers, averaging $100,000 in annual earnings, can afford typical rents in all 210 markets studied and can afford to buy a home in all metros but nine.

The study does not reflect the full impact stimulus programs are having on job creation, however, said Peter Gioia, vice president and economist at the Connecticut Business & Industry Association.

Other jobs will result in fields such as information technology, research and development, and “green” initiatives, he said.

“Many of those jobs may have much higher average compensation than any of the jobs cited” in the report, Gioia said.

Among the regions studied, Greater Bridgeport ranked the 10th most expensive for homeownership, with houses selling for a median of $370,000, making it the priciest area in the state.

The New Haven area ranked 68th, with a $195,000 median.

For renters, the most expensive Connecticut metro was the Bridgeport area, ranking 22nd nationwide with a two-bedroom, fair-market average rent of $1,214. New Haven ranked 34th with an average rent of $1,101.

Cara Baruzzi can be reached at cbaruzzi@nhregister.com or 789-5748.

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