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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