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This Is The Minimum Hourly Rate You Should Be Paid Per State In Order To Afford Rent

#2thrillist.comthrillist.com

According to Business Insider, the demand for rental apartments is at its highest since the 1960s. There are a few reasons for why that is, one being that Millennials, the largest generation since baby boomers, are desperate to buy homes.

Another reason could be that many Americans, especially poorer people, “haven’t felt the effects of the economic recovery, and may not be able to rustle up the funds for a down payment,” Business Insider reports. Many are struggling to find homes.

Regardless, it’s getting harder and harder for average Americans to afford a 2-bedroom rental in the U.S. Ideally, you don’t want to be spending more than a third of your monthly income on rent. But sadly, that’s not the reality.

In reality, the truth is a little bit more stressful and upsetting to your bank account, unless you’re a plastic surgeon living in North Dakota.

#1Business InsiderBusinessInsider

According to thrillist.com, rents are rising more and more in cities across the states, and are expected to climb by 1.7% nationally this year.

#2thrillist.comthrillist.com

Thrillist.com notes that there are about 80 million hourly workers over the age of 16 in the United States as of 2015.

#3The Odyssey OnlineTheOdysseyOnline

It’s worth taking a look at just how much hourly employees need to earn to be able to rent a two-bedroom apartment without spending a third of their income.

#4 Protect Your Retirement MoneyProtectyourretirementmoney

The National Low Income Housing Coalition compiled a list of states demonstrating the required hourly rate. Some may shock you while others might seem to be expected.

#5EasyApartmentRentalEasyApartmentRental

According to Thrillist, the statistics may vary per real estate market, but the dimensions of what labor entails don’t. Here are a few examples we have for you.

#6 Pinterest Pinterest

If you want to move to California and plan on renting a two-bedroom place, you best hope you’re at least making $28.59 per hour.

#7SkylineTerraceSkylineTerrace

Maybe reconsider moving to Alabama, where you need to earn almost half that rate. In order to get a 2-bedroom, you’d have to make $13.93 per hour.

#8 The University of AlabamaTheUniversityofAlabama

New York has a reputation of having expensive apartments that tend to be the size of your current kitchen. You’d need to make about $26.69 for a two-bedroom.

#9 Investopediainvestopedia

Some of the lowest hourly wages you’d need to rent a two-bedroom place would be in West Virginia. $13.17 is what you would be required to make.

#10 University Apartments, LLCUniversityApartments

Another state that doesn’t require a large amount of hourly rate is Iowa. You’d need to make $14.03 per hour to afford a place with two-bedrooms!

#11 Apartments.comApartments.com

Hawaii is amazing for vacations, but after seeing that you’d have to make $34.22 an hour to afford the rent there, we’re good with just vacationing there for a week or so.

#12PinterestPinterest

The State of Maryland is also pretty up there with New York City. You’d have to make $26.53 per hour in order to have the opportunity to rent a 2-bedroom.

#13 Best Western in MarylandBestWesterninMaryland

Thrillist writes that according to the NLIHC’s study, the average wage needed to rent a two-bedroom home in the States is $20.30/hour

#14AOL.comAOL.com

There are slight gains with the average minimum wage around the country. In 2014, Obama signed an order mandating businesses pay their employees at least $10.10/hour

#15www.usnewswww.usnews.com

But even with this slight raise, it’s nowhere near the average hourly rate required for Americans to be able to afford to rent a two-bedroom home.

#16entrepreneurentreprene

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