How much to earn to rent a two-bedroom house in different states of the USA
To rent a two-bedroom house, on average you will need to earn $ 21,21 per hour as a full-time US employee. The most expensive rental housing states are New York and Maryland. According to a new report by the National Coalition for Housing, depending on the state, to rent a house with 2 bedrooms, the hourly wage should range from $ 9,68 (in Puerto Rico) to $ 35,20 (in Hawaii) for people working 40 hours per week 52 weeks per year:
The map shows that many Americans, especially low-income workers, cannot afford to rent even a modest house.
The average wage required to rent a two-bedroom house ($ 21,21) is almost 3 times the federal minimum wage of $ 7,25. According to the Bureau of Labor Statistics, more than 2 of millions of American workers receive a salary equal to or lower than the federal minimum.
In Maryland, for example, the average rental price for a house in which 2 bedrooms are $ 1470 per month, according to HUD estimates. Fair market rents. To afford such a home, a tenant must earn $ 28,27 per hour, while the hourly minimum wage in the state currently averages $ 8,75.
The report says that there are only 12 districts across the country, where workers, while receiving the minimum wage, can afford to rent a one-bedroom house. These counties are in the following states: Washington, Arizona and Oregon. Even if Americans earn more than the minimum wage, it is still not enough to afford to rent a big house, so there is no need to talk about the savings required for retirement.
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