A recent study by the National Low Income Housing Coalition studied how much you needed to make in order to afford housing. They found that an Austin resident would have to earn $22.98 per hour to afford a two bedroom apartment.
 The thirty percent rule. 
That’s over three times the national minimum wage of $7.25 an hour.  The report found that around the country, even in areas with a higher minimum wage, no minimum wage worker could afford a two bedroom apartment.
The study used the standard measure of affordability for rent. Recommending that the cost of rent and utilities shouldn’t be more than 30% of a person’s gross income.

The study used $1,195 a month for the rent for a two-bedroom apartment in the Austin metro.  A person would need to earn $47,800 to pay for that apartment.

 If you earned $7.25 an hour, you’d need to work over 3 full time jobs to pay for a two-bedroom apartment.

 Texas came in at the 22nd slot in the most expensive cities for renters.  You need to earn $18.38 per hour to pay for a two bedroom in the state.  In the US, workers have to earn $21.21 per hour to swing rent on a two bedroom unit.

Worried about finding an apartment that will fit your budget?  A Plus Apartments is here to help.  Give our apartment finders a call at 512-231-1400 to use our absolutely free services to find you the apartment of your dreams for less!