As we all know, living in the US doesn’t mean that everything is the same everywhere. It’s an extensive territory, and each state is different from the other. That, of course, applies to rent as well.
#1 – How Much An Hour?
In this map, we get to see how much money an hour a household needs to afford a modest two-bedroom appartment -that is if they want to spend not more than 30% of their income in rent. That’s the ideal, according to the National Low Income Housing Coalition (NLIHC).
#2 – California
Let’s look at California: you’d have to make almost $29 an hour to afford a two-bedroom rental. This is according to the map and study from the NLIHC that considered rental rates in 2016. It’s not linear, though. It means that in places like San Francisco you would need more than that, and in others not as populated or sought after, you would need less. This is the average amount.
#3 – West Virginia
On the low end of the scale, you’d need to make $13.17 in West Virginia to afford a two-bedroom apartment. This is the cheapest place to rent in the US of A.
Now, the federal government mandates a nation-wide minimum wage of $7.25 per hour. This means that, to afford a one-bedroom rental unit, if we want to follow the 30% rule, a person would need to earn at least $16.35 an hour. This is the same than saying that they’d need to work 90 hours a week.