Looking to rent a two-bedroom apartment in Jacksonville? You’re going to need to make at least $18.63 per hour to afford it, according to a new report from the National Low Income Housing Coalition.
The coalition’s Out of Reach 2017 report looked at the gap between renters’ wages and the cost of rental housing. The study defines affordability as spending no more than 30 percent of your gross income on rent.
Housing wages, or what a renter would need to earn hourly to afford housing, varied widely across Florida, as expected. While you need to make at least $25.13 per hour to afford a two-bedroom in the Fort Lauderdale area, renters in the Baker County area would need to earn $14.46 per hour. Monroe County comes out to be the most expensive county with renters needing to make at least $32.35.
The average renter in Florida needs to work 102 work hours per week at minimum wage to afford a 2-Bedroom Rental Home.
Hawaii had the highest housing wage at $35.20 per hour, and Arkansas had the lowest housing wage of the 50 states at $13.72 per hour.