How much you need to make per hour to afford a rental in the U.S.?

How high is your Rent? Time to buy a house; call me--->

     Rosemary Reeve REALTOR®/Broker Associate CMRS w/Cherry Creek Properties, LLC 120^th Washington Thornton, CO 80241                                                                                                                         720.518-5463                                                                                                                    

Rising rents and stubborn stagnant wages do not a winning combination make — especially for American families feeling squeezed by the cost of keeping a roof over their heads.

In its annual “Out of Reach” report, the National Low-Income Housing Coalition has broken down exactly how many hours a household would need to work and how much they would need to earn per hour to afford a basic rental today.

A worker would need to earn $19.35 per hour — nearly three times the current federal minimum wage of $7.25 — to be able to afford a basic two-bedroom unit. A one-bedroom unit is only slightly less costly, requiring a wage of at least $15.50 an hour.  The average renter nationwide makes $15.16 an hour, which might explain why so many adults are leaning on roommates these days. (The report, which uses Fair Market Rent figures determined by Department of Housing and Urban Development, sets one-bedroom units at $806 and two-bedrooms at $1,006.)

Not surprisingly, some states have it worse than others. Hawaii, Washington, D.C., California, New York and New Jersey have the highest rents, each requiring workers to earn more than $25 per hour and, in Hawaii’s case, nearly $32 per hour.

Rosemary Reeve REALTOR®/Broker Associate CMRS w/Cherry Creek Properties, LLC 120^th Washington Thornton, CO 80241                                                                                                                         720.5185463                                                                                                                                                                           RosemaryLReeve@gmail.com                                                                                                          www.CCPRE.com                                                                                                                                          Facebook:  http://www.facebook.com/RosemaryReeveRealtor                                                                     Blog:  http://rosemaryreeve.blogspot.com/                                                                                               LinkedIn:  http://www.linkedin.com/in/rosemaryreeverealtor                                                                   Twitter:  http://www.twitter.com/ RosemaryReeve1                                                                                      Youtube:  Youtube.com/c/RosemaryReeveRealtor                                                                                                              Google Plus : google.com/+RosemaryReeveRealtor