NBC Los Angeles: Here’s How Much You Need to Earn to Afford Rent in California

NBC Los Angeles: Here’s How Much You Need to Earn to Afford Rent in California
June 18, 2018 Pierce Monahan

It is a known fact that California is one of the most expensive states to live in, and according to a new report, it takes three full-time minimum wage jobs to afford a two-bedroom rental home.  The National Low Income Housing Coalition recently published an extensive report on the high cost of housing, breaking down just how much it takes to live comfortably in the Golden State.  Californians need a hourly full-time wage of $32.68 to afford a two-bedroom rental home, according to the report published June 13. This figure makes California the second most expensive state, right behind Hawaii at $36.13 an hour. On average, renters in California make an hourly wage of $21.50 an hour, which is 41.2 percent lower than the necessary hourly wage to afford the cost of living.   Statistics show that 119 work hours per week at minimum wage are needed to afford the same two-bedroom rental — which is equal to three full-time minimum wage jobs.

Read Full Article