Study Says Idahoans Need To Make This Hourly Rate to Afford Rent
Rent, rent, and more rent--it's the talk of the Treasure Valley and it's only getting more and more heated as the prices continue to sky rocket. For whatever reason, I have been itching to move--until I learned from others in the area just how hard finding a rental space is these days. The supply is low, the prices are high, and I'm just too picky to risk losing my location that is close to work and everything I need.
A fairly recent Huffington Post study that I have seen shared in several local Facebook groups recently has mapped out the hourly wage needed in each state in order to be able to afford rent. The moral of the study is simply that the average full-time working American making minimum wage can't afford rent...in any state. Yikes.
The figures are based off of two bedroom housing units and call for the wage that a full-time worker must make working 40 hours per week, 52 weeks per year.
For the State of Idaho, the hourly wage required...allegedly...is $16.59. That comes out to $32,351 per year--a rather low salary for surviving in the Treasure Valley.
Keep in mind that this is a STATEWIDE estimate. Two bedroom apartments in Buhl, Idaho are probably a whole lot cheaper than they are in the Treasure Valley.
According to the Fair Market Rent price in Boise, as assigned by the HUD each year, a two bedroom should cost $1,054 per month. If you're a renter like me, odds are you're laughing at this too. A quick search for two bedroom rentals at that price in the entire City of Boise draws up a grand total of...ZERO results.
The answer to me seems obvious, you've got to make a whole lot more in order to live in the Treasure Valley than this estimated statewide hourly wage.
See the entire study for yourself, HERE.
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