MIAMI (WSVN) - A new report has revealed 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.
Overall, it is recommended that a Florida resident make $22.86 an hour for a yearly salary of $47,542 in order to comfortably afford a home. The report calculates the average price of an apartment at $1,189.
However, according to the report, it is recommended that South Florida residents earn even more.
It is recommended that Miami-Dade residents earn $27.96 for an annual salary of $58,160 to afford rent for a two-bedroom home at $1,454. This number has gone up from the NLIHC’s 2018 report, where it was recommended that Miami-Dade residents earn $25.98 an hour to pay for a two bedroom apartment.
In Broward County, it is recommended that residents earn $27.77 for a yearly salary of $57,760 to afford a two-bedroom apartment at $1,444. In 2018, it was recommended that Broward residents make $26.67 an hour to make rent.
The most expensive state was Hawaii where it is recommended that residents earn $36.82 an hour, while Arkansas had the cheapest recommendation at $14.26 an hour.
To read the full 2019 report, click here. To read the breakdown for Florida, click here.
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