A new report by the National Low Income Housing Coalition crunched the numbers on the average cost of renting in every state and the District, and broke down what renters would have to earn per hour to afford a place to live — based on the old axiom that you shouldn’t spend more than 30 percent of wages on housing.
It’s no surprise to DMV residents that rents in D.C. make the area among the country’s most expensive places to live.
To afford a two-bedroom home in D.C., the Washington Post reports that renters would have to earn at least $34.48 per hour. That’s nearly five times the federal minimum wage and more than 2.5 times the District’s minimum wage. It would take $27.75 per hour to afford a one-bedroom. The report calculates that the average price for a D.C. two-bedroom rental is $1,793 in monthly rent.