Wage Required to Afford a 2-Bedroom Rental in Every State

A report issued by the National Low-Income Housing Coalition (which they do every year), shows the hourly minimum wage required to be able to afford a 2-br RENTAL in every state of the union. My state is 35th. For my county, the wage is $17.13. And my county is considered to be "the poor people" by the snooty suburbans. Who, by the way, are prisoners of their McMansions.

What is it in your state? (And this is Fair Market Rent - what people are actually paying who are not in 'housing projects').

An excerpt from the report:

Housing is Out of Reach
Millions of Americans struggle to find affordable rents.

In order to afford a modest, two-bedroom apartment in the U.S., renters need to earn a wage of $19.35 per hour. In 13 states and the District of Columbia they need to earn more than $20 per hour. The Housing Wage for a two-bedroom unit is more than two and a half times the federal minimum wage of $7.25, and $4 more than the estimated average wage of $15.16 earned by renters nationwide. Find the data for your state, nonmetropolitan or metropolitan area, or county by clicking on the map above.

Keep in mind, this is NOT talking about "Home Ownership" (the dead American Dream) - it is talking about RENT.
Although I do have a mortgage for this house I bought (signed up for) 15 years ago, my mortgage payment is less than the average "rent" for my area. By $100 a month, and that INCLUDES insurance and property taxes. I won't own it outright for another 20 years....and the total cost is about 5 times what the original purchase price was.

The Stats Don’t Lie

In no state can a person working full-time at minimum wage afford a one-bedroom apartment at the Fair Market Rent.
Every year since 1989 Out of Reach has shown the gap between wages and rents across the country and the gap continues to grow as the cost of housing increases more quickly than earnings. A renter earning the federal minimum wage of $7.25 per hour would need to work 85 hours per week to afford a one-bedroom rent at the Fair Market Rent and 102 hours per week to afford a two-bedroom Fair Market Rent.

But, "heavens no! we can't increase the federal minimum wage!
No! Absolutely not!" squawk those in high cotton with no money woes of their own.

And I mean, REAL money woes, not someone whose six-figures (or hell, a million dollars! Or 5 billion!) a year seems inadequate to them.

What is your county's average rent?
What do you think about this?

The "Housing Bubble" (over inflated values) are the cause of higher rents. The more a house is determined to be "worth" the higher the cost of real estate, mortgage, taxes, maintenance, whatever.

Higher the value and cost, the higher the rent. You don't own the place, just pay for it.

Feeling the austerity?

a reply to: intrptr

I'm feeling that pissed-off feeling, actually.

a reply to: BuzzyWigs

Thread about this posted yesterday.


www.abovetopsecret.com...

a reply to: stosh64

Well, crap. THANKS! I did a search for it and didn't see anything.

See ya there, guys!

a reply to: BuzzyWigs

My State ranks 39th. Having been a home owner I prefer to rent at the moment. It ain't cheap to keep those major appliances in good shape. Ever have to replace an air conditioning unit or a furnace? The property taxes can really add to a persons cost whether renting or owning. Everything that sustains us is becoming unaffordable for most. And in my opinion we have been manipulated into this stranglehold.

I have a pretty tight family and group of friends, and we will pool our resources in order to maintain a comfortable life style. At the moment I am sharing a large house with an adult daughter and son. We have plenty of privacy and the team effort feels nice. We all have savings because of this.

My living arrangements are about to change, a close friend of mine will be sharing as my daughter is moving in with another daughter. I have five kids so the combinations keep things fresh and exciting.

More and more families are sharing living expenses now.

originally posted by: BuzzyWigs
A report issued by the National Low-Income Housing Coalition (which they do every year), shows the hourly minimum wage required to be able to afford a 2-br RENTAL in every state of the union. My state is 35th. For my county, the wage is $17.13. And my county is considered to be "the poor people" by the snooty suburbans. Who, by the way, are prisoners of their McMansions.

What is it in your state? (And this is Fair Market Rent - what people are actually paying who are not in 'housing projects').

An excerpt from the report:

Housing is Out of Reach
Millions of Americans struggle to find affordable rents.

In order to afford a modest, two-bedroom apartment in the U.S., renters need to earn a wage of $19.35 per hour. In 13 states and the District of Columbia they need to earn more than $20 per hour. The Housing Wage for a two-bedroom unit is more than two and a half times the federal minimum wage of $7.25, and $4 more than the estimated average wage of $15.16 earned by renters nationwide. Find the data for your state, nonmetropolitan or metropolitan area, or county by clicking on the map above.

Keep in mind, this is NOT talking about "Home Ownership" (the dead American Dream) - it is talking about RENT.
Although I do have a mortgage for this house I bought (signed up for) 15 years ago, my mortgage payment is less than the average "rent" for my area. By $100 a month, and that INCLUDES insurance and property taxes. I won't own it outright for another 20 years....and the total cost is about 5 times what the original purchase price was.

The Stats Don’t Lie

In no state can a person working full-time at minimum wage afford a one-bedroom apartment at the Fair Market Rent.
Every year since 1989 Out of Reach has shown the gap between wages and rents across the country and the gap continues to grow as the cost of housing increases more quickly than earnings. A renter earning the federal minimum wage of $7.25 per hour would need to work 85 hours per week to afford a one-bedroom rent at the Fair Market Rent and 102 hours per week to afford a two-bedroom Fair Market Rent.

But, "heavens no! we can't increase the federal minimum wage!
No! Absolutely not!" squawk those in high cotton with no money woes of their own.

And I mean, REAL money woes, not someone whose six-figures (or hell, a million dollars! Or 5 billion!) a year seems inadequate to them.

What is your county's average rent?
What do you think about this?

a reply to: BuzzyWigs

Our county's average rent depends on location and if you are renting an apt, a home, or a home with acreage. Also, if you have pets and/or horses or livestock. I am in CA but we have open spaces here. We have a University and that is seasonal in rent. itIt really varies. I rented a studio here at $350 and that was 20 years ago. That same studio today would double. In the local classifieds this morning here is an idea of rents: A 3 bedroom farm house with 10 acres is $1850. A beach area house $1350 for 2 bedroom. Walking distance from University 3 bedroom is $3000( this is seasonal). 1 room in 3 bedroom apartment in same University town is $550.
All of these are monthly.

The minimum wage here is $9.25 an hour.

If 2 people work minimum wage jobs, are these rents affordable...??

I hav mixed emotions about raising the minimum wage. Should it be raised? Yes
To what then? $15 an hour, I think that is a little too much.

I got tired of low wages, I joined a trades Union. By going to school and wanting to better myself, I am now making adecent livable wage.

"But we don't need Unions" says the people. Well how is that working out for everyone?

Everybody can sit and complain, or everybody can come together and fight for a better living standard, which is exactly what the trade unions do.

A person has to want to get out of the same rut to want to be better.

Sorry if I offend you, but nobody has ever handed me anything. It has been an up hill battle the whole time.

a reply to: Witness2008

My State ranks 39th. Having been a home owner I prefer to rent at the moment. It ain't cheap to keep those major appliances in good shape. Ever have to replace an air conditioning unit or a furnace? The property taxes can really add to a persons cost whether renting or owning. Everything that sustains us is becoming unaffordable for most. And in my opinion we have been manipulated into this stranglehold.

Yeah, I've been saying for years - home-ownership is a big pain in the butt, and not what it's cracked up to be. At all.

Thanks for stopping by. Someone will be along soon to close the thread.....check out the one that stosh linked to, though!

a reply to: liejunkie01

"But we don't need Unions" says the people. Well how is that working out for everyone?

Everybody can sit and complain, or everybody can come together and fight for a better living standard, which is exactly what the trade unions do.

I am a proponent of Unions.

$7.25/hr @ 85 hours a week is about $620/week, or $2500/month. How is this not enough to rent a single bedroom apartment? Where are you living that has rent this high, and maybe the better question is, why are you still living there?

a reply to: Pants3204

Look at the numbers. I am not making this up.

a reply to: BuzzyWigs

I'm interested in how these numbers were calculated because I currently rent a 3 bed 2 bath house about a mile from a major university campus for less than half of that per month. Even luxury apartments in the nearby metropolitan area don't even begin to approach that.

originally posted by: BuzzyWigs
a reply to: intrptr

I'm feeling that pissed-off feeling, actually.

I bet. Not enough, yet. Thats why they call it Austere, its supposed to give you a warm fuzzy feeling.

But hides behind the sound… Aww Steeeer

originally posted by: Pants3204
$7.25/hr @ 85 hours a week is about $620/week, or $2500/month. How is this not enough to rent a single bedroom apartment? Where are you living that has rent this high, and maybe the better question is, why are you still living there?

85 hours?

originally posted by: Pants3204
$7.25/hr @ 85 hours a week is about $620/week, or $2500/month. How is this not enough to rent a single bedroom apartment? Where are you living that has rent this high, and maybe the better question is, why are you still living there?

You in the military sport? Or single? Lots of free, there…

In Silicon Valley,

Median rent in "techdom"

a reply to: FyreByrd

Right? 85 hours. Not 40.
Insane.

a reply to: intrptr
No, and no. No free here.

If you're making minimum wage you probably shouldn't live in silicon valley.

a reply to: FyreByrd
That's what the OP mentions as required to meet rent on a 1 bedroom apartment.

a reply to: BuzzyWigs

85 hours is a couple making minimum wage.