Rent is becoming more and more affordable in the US, especially for those who don’t like living with roommates. For example, in New York City, Average cost of renting a one bedroom increased by 46.7% year-on-year.
And New York isn’t even the state where renters need to earn the most to pay for a one-bedroom rental.
and A recent report on the state of affordable housingThe United Way of the National Capital Area used data from the National Low Income Housing Coalition (NLIHC) to determine the annual income required to pay for both one- and two-bedroom rentals nationwide.
United Way defines affordable housing as affordable for households earning between 0% and 50% of the local median annual income. Depending on the state, the annual income required to pay for a one-bedroom rent ranges from about $24,500 to about $64,600.
Here are the minimum income required to pay for a one-bedroom rental in all 50 states, and the median actual income renters make in each location.
Alabama
Annual income required to rent a one-bedroom: $27,100
Average Household Income of Tenants: $30,668
Alaska
Annual income required to rent a one-bedroom: $38,005
Average Tenant Household Income: $56,286
Arizona
Annual income required to rent a one-bedroom: $37,593
Average Tenant Household Income: $42,511
Arkansas
Annual income required to rent a one-bedroom: $24,587
Average Tenant Household Income: $31,886
California
Annual income required to rent a one-bedroom: $64,615
Average Tenant Household Income: $56,378
colorado
Annual income required to rent a one-bedroom: $46,148
Average Tenant Household Income: $49,179
connecticut
Annual income required to rent a one-bedroom: $46,096
Average Tenant Household Income: $44,771
Delaware
Annual income required to rent a one-bedroom: $38,439
Average Tenant Household Income: $43,616
florida
Annual income required to rent a one-bedroom: $41,953
Average Tenant Household Income: $41,337
Georgia
Annual income required to rent a one-bedroom: $34,864
Average Tenant Household Income: $40,111
Hawaii
Annual income required to rent a one-bedroom: $60,027
Average Tenant Household Income: $60,215
Idaho
Annual income required to rent a one-bedroom: $28,644
Average Tenant Household Income: $36,558
Illinois
Annual income required to rent a one-bedroom: $38,891
Average Tenant Household Income: $40,623
Indiana
Annual income required to rent a one-bedroom: $27,932
Average Tenant Household Income: $34,285
Iowa
Annual income required to rent a one-bedroom: $26,227
Average Tenant Household Income: $35,771
Kansas
Annual income required to rent a one-bedroom: $27,774
Average Tenant Household Income: $38,426
kentucky
Annual income required to rent a one-bedroom: $26,205
Average Tenant Household Income: $32,359
Louisiana
Annual income required to rent a one-bedroom: $30,756
Average Tenant Household Income: $29,979
maine
Annual income required to rent a one-bedroom: $34,992
Average Tenant Household Income: $34,153
Maryland
Annual income required to rent a one-bedroom: $49,860
Average Tenant Household Income: $53,894
Massachusetts
Annual income required to rent a one-bedroom: $61,163
Average Tenant Household Income: $49,546
Michigan
Annual income required to rent a one-bedroom: $30,590
Average Tenant Household Income: $34,728
Minnesota
Annual income required to rent a one-bedroom: $36,189
Average Tenant Household Income: $41,414
Mississippi
Annual income required to rent a one-bedroom: $26,227
Average Tenant Household Income: $29,358
Missouri
Annual income required to rent a one-bedroom: $27,602
Average Tenant Household Income: $35,632
Montana
Annual income required to rent a one-bedroom: $28,715
Average Tenant Household Income: $36,087
Nebraska
Annual income required to rent a one-bedroom: $27,801
Average Tenant Household Income: $38,707
Nevada
Annual income required to rent a one-bedroom: $36,897
Average Tenant Household Income: $44,034
new hampshire
Annual income required to rent a one-bedroom: $39,978
Average Tenant Household Income: $46,042
new jersey
Annual income required to rent a one-bedroom: $54,677
Average Tenant Household Income: $50,446
new mexico
Annual income required to rent a one-bedroom: $35,814
Average Tenant Household Income: $33,417
New York
Annual income required to rent a one-bedroom: $60,962
Average Tenant Household Income: $48,924
north carolina
Annual income required to rent a one-bedroom: $32,439
Average Tenant Household Income: $37,246
north dakota
Annual income required to rent a one-bedroom: $27,653
Average Tenant Household Income: $42,634
Ohio
Annual income required to rent a one-bedroom: $27,351
Average Tenant Household Income: $34,355
Oklahoma
Annual income required to rent a one-bedroom: $26,790
Average Tenant Household Income: $35,531
Oregon
Annual income required to rent a one-bedroom: $43,321
Average Tenant Household Income: $42,991
pennsylvania
Annual income required to rent a one-bedroom: $33,661
Average Tenant Household Income: $37,588
rhode island
Annual income required to rent a one-bedroom: $38,711
Average Tenant Household Income: $37,469
south carolina
Annual income required to rent a one-bedroom: $32,239
Average Tenant Household Income: $35,209
south dakota
Annual income required to rent a one-bedroom: $25,167
Average Tenant Household Income: $35,455
Tennessee
Annual income required to rent a one-bedroom: $30,475
Average Tenant Household Income: $35,589
texas
Annual income required to rent a one-bedroom: $37,841
Average Tenant Household Income: $43,372
Utah
Annual income required to rent a one-bedroom: $34,761
Average Tenant Household Income: $45,915
Vermont
Annual income required to rent a one-bedroom: $39,178
Average Tenant Household Income: $37,254
Virginia
Annual income required to rent a one-bedroom: $43,501
Average Tenant Household Income: $53,175
Washington
Annual income required to rent a one-bedroom: $49,877
Average Tenant Household Income: $52,592
west virginia
Annual income required to rent a one-bedroom: $25,214
Average Tenant Household Income: $27,921
Wisconsin
Annual income required to rent a one-bedroom: $29,896
Average Tenant Household Income: $37,825
wyoming
Annual income required to rent a one-bedroom: $28,493
Average Tenant Household Income: $42,634
In 11 states—California, Connecticut, Florida, Louisiana, Maine, Massachusetts, New Jersey, New York, Oregon, Rhode Island, and Vermont—renters earning median income for their area do not meet the income requirement.
Of these 11, Massachusetts has the largest deficit. Rent a one-bedroom requires her annual income to be above $61,000, while the median household income for renters is less than $50,000.
Some cities also have large deficits, United Way reveals. In San Francisco, he would need to earn $116,000 to buy a one-bedroom at fair market value, but the median renter’s income he’s only $93,303, a difference of more than $22,000. .
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https://www.cnbc.com/2022/09/27/how-much-you-need-to-earn-to-afford-1-br-rental-in-every-us-state.html How much do you have to earn to rent a bedroom in each US state?
