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How Much do you Need to Earn to Afford a Modest Apartment in Your State

National Housing Coalition Report: ” Millions of Americans struggle to find affordable rent. In order to afford a modest, two-bedroom rental home in the U.S., renters need to earn a wage of $21.21 per hour. The Housing Wage for a two-bedroom apartment is $13.96 higher than the federal minimum wage of $7.25, and $4.83 higher than the average hourly wage of $16.38 earned by renters nationwide. The Struggle is Widespread – In no state can a person working full-time at the federal minimum wage afford a two-bedroom apartment at the Fair Market Rent. A renter earning the federal minimum wage of $7.25 per hour would need to work 117 hours per week to afford a two-bedroom rental home at the Fair Market Rent and 94.5 hours per week to afford a one-bedroom. In only 12 counties can a full-time worker earning the prevailing federal or state minimum wage afford a one-bedroom rental home…”

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