Yet more confirmation that housing is really, really expensive in Hawaii.
The National Low Income Housing Coalition has released a report saying that folks in our state need to earn $31.61 per hour to afford a “modest” two-bedroom apartment.
According to the report, that makes Hawaii more expensive than any other state, even second-place California and third-place District of Columbia. The national average wage is $19.35 per hour.
NLIHC
Hawaii’s stats are somewhat misleading because they include Honolulu’s required wage of nearly 35 bucks an hour compared with the other three counties, which are in the $22 to $24 range.
Meanwhile, the fair market rate for a two-bedroom unit here is estimated to be $1,644 a month, $1,257 for a one-bedroom. More than 40 percent of us rent.
Here’s some perspective, says the coalition: “A renter earning the federal minimum wage of $7.25 per hour would need to work 85 hours per week to afford a one-bedroom rent at the Fair Market Rent and 102 hours per week to afford a two-bedroom Fair Market Rent.”
Thinking of moving? Consider Arkansas, which ranks 51st (Washington, D.C. was included) when it comes to wages and renting. You’ll only have to find a job paying $12.95 an hour.
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