How expensive Is It To Live In South Florida

An annual report on home rentals has revealed the ideal hourly wage needed to afford rent in each state. The 2020 Out of Reach report shows how much a person would need to make per hour, in order to afford a two-bedroom apartment without spending more than 30 percent of their income.

It is recommended that a Florida resident make $24.43 an hour for a yearly salary of $50,807 in order to comfortably afford a two-bedroom home. The average price of a two-bedroom home is $1,270.

Miami-Dade residents are recommended to earn $31.25 an hour for an annual salary of $65,000 to afford rent for a two-bedroom home at $1,625.

In Broward County, residents need to earn $29.38 for a yearly salary of $61,120 to afford a two-bedroom home at $1,528.

The least expensive state is Arkansas, where residents need to make $14.19 an hour.

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