The hourly wage needed to rent a two-bedroom home in every state
 

$30k in California is what rent is a year for a 2 bedroom in my area... just the rent $2,500 a month

move to barstow or some other shithole like that and it's not $2500 a month.

When demand exceeds supply this is the result.

Real estate racket...the rich get richer...trickles up

That's how capitalism works, those that save up some capital, then invest it in real estate or stock markets or businesses, etc get ahead. There is nothing at all wrong with that, those that make the sacrifice by consuming less than they produce, and then investing the rest SHOULD get ahead. Or did you perhaps think that the idiots that live beyond their means should be the ones getting ahead? :error

I am surprised that rents are so high considering the relatively low property prices - Landlords are getting some pretty healthy returns...

http://i.imgur.com/xmrDomf.png
http://i.imgur.com/WjjOfAT.png

Unless you rent in west bumfuck or in the ghetto. No way you can afford a 2 bedroom home making $16 an hour in GA.

journey men in the trades average about 35-40 right?

Average rent is approx. 1500 per month for a dumpy 1 bedroom here. You have to be making at least 30 bucks an hour to live somewhat normal

I believe that some of the money in higher rental rates can be traced back to the liability insurance property owners must carry these days.

This past fall I had an opportunity to buy a 50% partnership in a small 18 unit apartment building outside of Denver. It was a unique situation with partners that didn't get along and a building that was designed as a 55 and above community with some deed restrictions, but in the end the liability insurance costs made it seem like a bad idea.

Maybe in my case it was higher due the the 55+ restrictions.

But, then again we must remember that everybody is fighting for bigger wages. Landlords have to charge more. No longer can the lawn mowing crew get young guys to mow and rake for $10.50 an hour because the can make that or more working inside at McDonalds or Starbucks. Then, when the lawn mowing (landscaping / snow shoveling) crew needs to be paid something like $15.00 an hour, the cost to do the entire property is higher and that is passed on to tenants in higher rents.

The supply and demand mentioned above clearly shows here in Colorado. We are 420 friendly (full retail ages 21+), and lots of people moving here. Compare Colorado rates the all the states around it. Interesting.

it is trickle up for a small group of people...this small group makes $$$ while the rest spend 30 years paying off a 2 bedroom in san francisco in the "low 1million $" as the advert said :1orglaugh:1orglaugh:1orglaugh

you can try and pretend that this is good for the economy but I put it to you that the 1million would have been better if it was disposable income and spent and passed around to 1000-s of people and not just one bank or landlord...it is the cancer of modern economy...

your own customers would have much more disposable income to spend if they were not shit deep in debt paying off the real estate and helthcare and """"""""""defense""""""" racket...trickle up...

New York City - double whatever they have there. LOL

Meanwhile the national 'medium" average wage in the US is $17 & some change. Meaning the average person can't afford to rent a 2 bedroom house in over half the sates in the US..

Those rate are the statewide rates as expressed on "Business Insider" an Indian website created to sell ads to USA audiences :eek7 I hope that they used that screenshot with permission ...

Here is a search by zipcode Two-Bedroom Housing Wage by Zip Code: National Low Income Housing Coalition from the source of the data

? 2017 National Low Income Housing Coalition

I wonder how many wage earners are living in each 2 BR house that is rented?
Found an answer: What Percentage of Household Income is Spent on Rent in Each State?

So its 25% to 33% of household income

He doesn't understand the concept of averages.

The border should have been locked down 30 years ago. Then these illegals and their (now) adult children and grand children wouldn't be putting strains on housing markets.

Americans just don't realise how lucky they have it with cost of living

Finding a 2 room apartment in a highrise within 20 miles from the centre of Sydney, that's under 2000 a month would be next to impossible, I'm sure there's dumps around but they are few and far between with 50 applicants for each, don't forget here you also need a month in advance and 6 weeks held as bond.

Here in Sydney budget 700 a week for a two room apartment in a highrise, might find something no view lower floors for that and if your buying budget around a million but again VERY lucky to fine something that cheap, be closer to 1.2m

That's an apartment, want a house, better bring your checkbook.

I won't even start on prices in my town.

When they include the costs of luxury apartments the average price of a home is always going to look expensive to people on low wages.

Its called average, just like when they determine the average pay, they count the smuck making $8/hr as well as the guy making millions.. but sure certain areas can skew the entire state's numbers.

States like CO are wrong though, because Denver is one of the highest price places in the country. You are looking at $2k+ to rent a 2 bedroom home in a shitty area. If they count apartments then maybe $1,2k to 1,5k would be the lower end stuff.

Yet they are showing CO as just a dollar diffrence from FL. The high price beach condos for sure skew the prices in FL because FL isn't as expensive as CO.

Your talking one city, it's the same in the US.. Try to rent a place in Boston, NY, Southern Cali ect..ect for under $2k..

It's just like anywhere else, you want to live in certain cities you are paying big money. Other cities and places can be much more reasonable.

Location, location, location.

What do you think a 2BR co-op apartment costs overlooking Central Park in NYC?
What do you think a 2BR double wide costs in Jackson, Mississippi?

The difference between ownership and renting costs is divergent.

This is why my kid still lives at home, friends his age have 3-4 people to each 2 bedroom apt. One person for each bedroom and one person for each couch. Couches go from $400-$600 per month each. He moved out to do the couch thing and that lasted about 8 months :1orglaugh