For reference, the federal minimum wage would have you earning roughly on average $1,256.66 a month
It’s recommended your rent only be 30% of your total budget, so with an average monthly rent of $1,827 that would mean your average renter’s monthly income should ideally be $6,090
That would be roughly $35.13 hourly or $73,080 annually
However, the average renter’s household income is only $42,500 annually or $20.43 hourly (as of 2019 according to the Census Bureau’s American Community Survey)
This means either rent prices are too unsustainably high and price gouging or wages are too unsustainably low and predatory
Or both
(Hint: it’s both)
not to mention most apartments won’t even allow you to apply unless you make 3 times rent.
