How much do you need to earn per hour to pay rent in different states - ForumDaily
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How much do you need to earn per hour to pay rent in different states?

Budgeting experts insist that no more than 30% of an individual's or family's income should be spent on housing. But many simply cannot afford to follow this rule. Research The National Low Income Housing Coalition (NLIHC) found that US residents earning the minimum wage cannot afford to rent a one-bedroom apartment in any state in America.

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Coalition experts have determined the minimum wage required to ensure that rent in different parts of the United States falls within 30% of your income. So the hourly rate required to rent a modest two-bedroom apartment in 2023 is at least double the federal minimum wage of $7,25 an hour. In some states you need to earn six (!!!) times the minimum wage.

On average in the United States, a person needs to earn $25,82 an hour to pay rent for a two-bedroom apartment without spending more than 30 percent of their income. To comfortably rent a one-bedroom apartment, you need to earn $21,25 per hour.

Even in states where the minimum wage is higher than the federal standard, it is still not enough to meet the 30% housing income rule.

The map below shows the minimum wage required to rent a two-bedroom apartment in each state, assuming a 40-hour work week and meeting the 30% housing income rule. Click on the state you're interested in to see its score.

In Arkansas, the minimum hourly income required to rent a two-bedroom apartment is $14,89, but the minimum wage there is $11 an hour.

Hawaii requires the highest income for renters. You need to earn $40,63 an hour to afford a two-bedroom apartment; Now the minimum wage there is $12.

Even in states where the minimum wage is higher than the federal minimum wage, the average American would have to work 96 hours a week for all 52 weeks of the year to afford a two-bedroom apartment and spend no more than 30% of their income on it.

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