Report: South Florida residents need to make at least $25.98 an hour to afford rent

(WSVN) - A new report has unveiled the ideal hourly wage needed to afford rent in each state in the country.

The report published by the National Low Income Housing Coalition, shows how much a person would need to make per hour, working full-time, in order to afford a two-bedroom apartment without spending more than 30 percent of their income.

According to the report, it is recommended that Florida residents make $21.50 per hour for a total of $44,716 a year in order to make rent for an apartment. The report puts the average price of an apartment at $1,118 a month.

In Miami, it is recommended that renters make even more, at $25.98, for an annual salary of $54,040 in order to pay for an apartment around $1,351.

In Fort Lauderdale the price is slightly more. There it is recommended that renters make $26.67 per hour to pay for a two-bedroom apartment around $1,387.

According to the report, the most expensive state to find a two-bedroom apartment is Hawaii, where renter would need to make $36.13 an hour. The least expensive state was Arkansas, where it is recommended that renters make $13.84.

To read the full report, click here.

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