If renting an apartment seems out of your budget, you’re likely not alone.
According to a new report from the National Low Income Housing Coalition, Texans would need to earn at least $20.29 per hour to afford rent on the average two-bedroom apartment. That’s nearly three times the minimum wage of $7.25.
The $20-per-hour rate is based on an annual income of $42,197, which would allow a renter to spend no more than 30% of their income on housing.
Of course, the minimum income required for this sort of rental varies city-to-city. In San Antonio, the number is only slightly lower at $20.19 per hour. That means anyone making minimum wage would need at least two roommates to afford the average two-bedroom rent here of $1,050 a month.
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This article appears in The Pride Issue.
