Strain of rent on wages in WA is among highest in U.S., report finds

Most workers in Washington are spending too much of their income on rent, according to a new report.

The report from the National Low Income Housing Coalition found that Washington has the fifth highest “housing wage” in the country. That’s the amount a person must make to afford a two-bedroom home without spending more than 30% of their income on housing.

To afford a two-bedroom home in Washington – based on fair market rent prices – a renter needs to make more than $40 an hour, or $83,865 a year. The average renter in Washington makes just under $29 an hour, and those who are paid minimum wage make $16.28 an hour.

“Rents are rising far, far, far greater than incomes,” said Michele Thomas, director of policy and advocacy for the Washington Low Income Housing Alliance. “Washington’s households are hurting.”

https://washingtonstatestandard.com/2024/06/27/was-gap-between-rent-and-wages-among-widest-in-u-s-report-finds/