Originally published by Construction Coverage.
Federal funding for infrastructure projects has surged in recent years: since 2021, Congress has allocated more than $550 billion for rebuilding and expanding critical infrastructure. Due to this spending growth and a persistent inability to recruit and train the next generation of construction workers, the construction industry is facing a major worker shortage. One industry trade association estimates 454,000 new workers will be required, on top of normal hiring, to meet the booming demand in 2025.
However, despite this substantial need, elevated home prices, inadequate homebuilding pace, and wages failing to keep pace with inflation are making it difficult for construction workers to afford to purchase a home in the cities where they work.
Construction wages and housing affordability vary by location, however. Researchers ranked states according to the number of weekly work hours needed for a construction worker earning the median hourly wage to afford a median-priced home in their location, spending no more than 30% of their income on housing.
Maryland:
- Construction workers in Maryland earn a median hourly wage of $27.35.
- Meanwhile, the monthly mortgage payment for a median-priced home in Maryland stands at $2,189.
- This means that construction workers in Maryland, assuming they are spending no more than 30% of their income on housing, would have to work 62 hours a week to afford a median-priced home—considerably more than a typical 40-hour work week.
Below is a complete data breakout for Maryland. The full results of the analysis include data on over 380 U.S. metros and all 50 states.
Source: Construction Coverage analysis of U.S. Bureau of Labor Statistics and Zillow data | Image Credit: Construction Coverage
