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Renting a two-bedroom home in California will cost you 3x minimum wage, study says

The estimated yearly salary a person needs to afford a rental home while spending no more than 30 percent of their income on housing costs is $72,165.

SACRAMENTO, Calif. — You will need to make almost $35 an hour, nearly three times the minimum wage, if you want to rent a two-bedroom home in California, according to a report.

The National Low Income Housing Coalition released a report that ranked California second in the hourly wages required to be able to afford rent at a two-bedroom home. Hawaii was ranked number one.

The estimated yearly salary a person needs to afford a rental home, according to the Housing and Urban Development’s Fair Market Rent, while spending no more than 30 percent of their income on housing costs is $72,165.

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The average home renter makes $22.79 an hour while the state hourly minimum wage is $12. The average home renter is still short by almost $12.

A California resident will have to earn about $34.69 an hour to be able to afford rent, according to the National Low Income Housing Coalition. The study also broke down the numbers by city and county as well.

The city of Sacramento's rent prices are more affordable compared to the state as a whole, according to the study. 

In Sacramento, a two-bedroom apartment requires an hourly wage of $23.46. That means someone working for minimum wage would have to work at least two full-time jobs. The average renter in Sacramento makes $17.02 and at that amount would have to work 56 hours a week.

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Marin County required the highest income in California, according to the study, where residents would have to make $60.96 an hour to afford a two-bedroom home. A person who makes minimum wage would have to work at least five full-time jobs to afford it.

Modoc County required the lowest income, according to the study, where residents would have to make $13.46 an hour. A person renting there would have to work 44 hours a week for the rent to be 30 percent of their income.

Here is a breakdown of the approximate amount of hours a renter with a minimum wage job would have to work in order to be able to afford a two-bedroom home in the following counties:

  • Sacramento County: 80 hours 
  • San Joaquin County: 72 hours 
  • Stanislaus County: 64 hours
  • Placer: 80 hours
  • Yolo County: 88 hours

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