San Francisco Tops List Of Hourly Wages Needed To Rent 2-Bedroom Home

San Francisco CA

14 July, 2021

6:56 PM

Description

CBS San Francisco July 14, 2021 SAN FRANCISCO (CBS SF) — A report from a non-profit group that advocates for affordable housing shows a worker would need to earn nearly $70 an hour – or work nearly five minimum wage jobs – to afford a two-bedroom apartment in San Francisco, the priciest metropolitan area in the country. The National Low Income Housing Coalition (NLIHC) on Wednesday released its 2021 Out of Reach report on the cost of housing across the country, showing California being the most expensive state to live in terms of housing wages. The average California resident would need to earn $39.03 an hour (working 40 hours per week, 52 weeks per year) in order to rent a two bedroom home without paying more than 30% of income on rent, according to the report. Download: NLIHC 2021 Out of Reach Report CBS Local Digital Media personalizes the global reach of CBS-owned and operated television and radio stations with a local perspective.