When it comes to Washington, D.C., it's hard out here for a renter. According to the National Low Income Housing Coalition (NLIHC), if you make $10.50 per hour — which is the District's minimum wage — you need to work 103 hours every week to afford a "modest" one-bedroom apartment at fair market rent. For a two-bedroom, market-rate apartment, one needs to make $31.21 per hour. In comparison to the nation's 50 states, the District has the second highest gap between earnings and affordability of renting, reported UrbanTurf.
The NLIHC reports that 58 percent of households in Washington, D.C. rent. To afford a studio, the report states that one needs to make $52,280 per year. For a one-bedroom and two-bedroom, one needs to make $56,080 and $64,920 per year, respectively. These numbers contradict a recent report from SmartAsset that stated that the income needed to afford a two-bedroom apartment is $119,271 per year.
• Out of Reach 2016: District of Columbia [National Low Income Housing Coalition]
• $31 An Hour: The Cost of a Two-Bedroom Rental in the DC Area [UrbanTurf]
• Here Is What You Need to Make to Afford a Two-Bed Apartment in Washington, D.C. [Curbed DC]