Here is the hourly income you would need to afford rent around the country.
The National Low Income Housing Coalition (NLIHC) released it’s annual “Out of Reach” report.
This compares minimum wages and housing costs all across the country. This year’s report shows that in order to afford a “modest” two-bedroom rental in 2022, the hourly wage you’d need is $25.82. For a modest one-bedroom, you’d need $21.25 an hour. This would be the number for them to not spend more than 30% of their income.
Arkansas had the lowest hourly income needed for a two-bedroom at an hourly wage of $14.89. Hawaii ranked the highest with people needing to make $40.63 to afford a two-bedroom. Here’s a look at some other states:
- New York – $37.72
- California – $39.01
- Massachusetts – $37.97
- New Jersey – $31.32
- Kansas – $16.91
- Alabama – $16.32
- Indiana – $16.97
The group also notes that even in places where the minimum wage is higher than the federal standard, it’s still not enough. “No local minimum wages are sufficient to afford a one-bedroom rental home at the fair market rent with a 40-hour workweek,” they state.