Business

How much do you need to earn to afford 1-BR rent in every US state


In the US, rent is becoming more and more affordable, especially for people who don’t want to live with roommates. In New York City, for example, average cost of renting 1 bedroom increased by 46.7% over last year.

And New York isn’t even the state where renters need to make the most money to afford one-bedroom rent.

In one recent report on the state of affordable housingUnited Way of the National Capital Region used data from the National Alliance for Low-Income Housing (NLIHC) to determine the annual income needed to pay both one- and two-bedroom rents across the United States. Ky

United Way defines affordable housing as the amount that households earning between 0% and 50% of an area’s median annual income can afford. Depending on the state, the annual income needed to pay one-bedroom rent ranges from about $24,500 to about $64,600.

Here’s the minimum income you’ll need to earn to afford one-bedroom rent in all 50 states, as well as the actual median income that renters earn in each location.

Alabama

Annual income needed to pay for one bedroom: $27,100

Average household income for renters: $30,668

Alaska

Annual income required to pay one bedroom rent: $38,005

Average household income for tenants: $56,286

Arizona

Annual income required to pay one bedroom rent: $37,593

Average household income for tenants: $42,511

Arkansas

Annual income required to pay one bedroom rent: $24,587

Average household income for tenants: 31,886 USD

California

Annual income required to pay one bedroom rent: $64,615

Average household income for tenants: $56,378

Colorado

Annual income needed to afford one bedroom rent: $46,148

Average household income for tenants: $49.179

Connecticut

Annual income needed to afford one bedroom rent: $46,096

Average household income for tenants: $44,771

Delaware

Annual income needed to afford one bedroom rent: $38,439

Average household income for tenants: $43,616

Florida

Annual income needed to afford one bedroom rent: $41,953

Average household income for tenants: $41,337

Georgia

Annual income needed to afford one bedroom rent: $34,864

Average household income for tenants: $40,111

Hawaii

Annual income needed to afford one bedroom rent: $60,027

Average household income for tenants: $60.215

Idaho

Annual income needed to afford one bedroom rent: $28,644

Average household income for tenants: $36,558

Illinois

Annual income needed to afford one bedroom rent: $38,891

Average household income for tenants: $40,623

Indiana

Annual income needed to afford one bedroom rent: $27,932

Average household income for tenants: $34,285

Iowa

Annual income needed to afford one bedroom rent: $26,227

Average household income for tenants: $35,771

Kansas

Annual income needed to afford one bedroom rent: $27,774

Average household income for tenants: $38,426

Kentucky

Annual income needed to afford one bedroom rent: 26,205 dollars

Average household income for tenants: $32,359

Louisiana

Annual income needed to afford one bedroom rent: $30,756

Average household income for tenants: $29,979

Maine

Annual income needed to afford one bedroom rent: $34,992

Average household income for tenants: $34,153

Maryland

Annual income needed to afford one bedroom rent: $49.860

Average household income for tenants: $53,894

Massachusetts

Annual income needed to afford one bedroom rent: 61,163 dollars

Average household income for tenants: $49.546

Michigan

Annual income needed to afford one bedroom rent: $30,590

Average household income for tenants: $34,728

Minnesota

Annual income needed to afford one bedroom rent: $36,189

Average household income for tenants: $41,414

Mississippi

Annual income needed to afford one bedroom rent: $26,227

Average household income for tenants: $29,358

Missouri

Annual income needed to afford one bedroom rent: 27,602 dollars

Average household income for tenants: $35,632

Montana

Annual income needed to afford one bedroom rent: $28,715

Average household income for tenants: $ 36,087

Nebraska

Annual income needed to afford one bedroom rent: 27,801 USD

Average household income for tenants: $38,707

Nevada

Annual income needed to afford one bedroom rent: $36,897

Average household income for tenants: $44,034

New Hampshire

Annual income needed to afford one bedroom rent: $39,978

Average household income for tenants: $46,042

New shirt

Annual income needed to afford one bedroom rent: $54,677

Average household income for tenants: $50,446

New Mexico

Annual income needed to afford one bedroom rent: $35,814

Average household income for tenants: $33,417

New York

Annual income needed to afford one bedroom rent: $60,962

Average household income for tenants: $48,924

North Carolina

Annual income needed to afford one bedroom rent: $32,439

Average household income for tenants: $37.246

North Dakota

Annual income needed to afford one bedroom rent: $27.653

Average household income for tenants: $42,634

Ohio

Annual income needed to afford one bedroom rent: $ 27,351

Average household income for tenants: $34,355

Oklahoma

Annual income needed to afford one bedroom rent: $26,790

Average household income for tenants: $35,531

Oregon

Annual income needed to afford one bedroom rent: $43,321

Average household income for tenants: $42,991

Pennsylvania

Annual income needed to afford one bedroom rent: $33,661

Average household income for tenants: $37,588

Rhode Island

Annual income needed to afford one bedroom rent: $38,711

Average household income for tenants: $37,469

South Carolina

Annual income needed to afford one bedroom rent: $32,239

Average household income for tenants: $35,209

South Dakota

Annual income needed to afford one bedroom rent: $25,167

Average household income for tenants: $35,455

Tennessee

Annual income needed to afford one bedroom rent: $30,475

Average household income for tenants: $35,589

Texas

Annual income needed to afford one bedroom rent: $37,841

Average household income for tenants: $43,372

Utah

Annual income required to pay one bedroom rent: $34,761

Average household income for tenants: $45,915

Vermont

Annual income needed to afford one bedroom rent: $ 39,178

Average household income for tenants: $37.254

Virginia

Annual income needed to afford one bedroom rent: $43,501

Average household income for tenants: $53,175

Washington

Annual income required to pay one bedroom rent: $49.877

Average household income for tenants: $52,592

West Virginia

Annual income required to pay one bedroom rent: $25,214

Average household income for tenants: $27,921

Wisconsin

Annual income required to pay one bedroom rent: $29.896

Average household income for tenants: $37,825

Wyoming

Tapping into this ancient Japanese concept can help you figure out your calling



Source link

news7f

News7F: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, Sports...at the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button