June 3, 2016
By: Daniella Soloway
The National Low Income Housing Coalition released its Out of Reach 2016 report, which found that someone looking to afford a two-bedroom apartment in the City of Angels would have to earn $28.65 per hour.
This number is based on Fair Market Rent, which is determined by the federal Department of Housing and Urban Development. This number also means that someone who is earning the current minimum wage in the city would have to work nearly three full-time minimum wage jobs to be able to afford rent on a two-bedroom apartment.
For a one-bedroom, workers would have to earn an average wage of $22.19 per hour, the study found.
Tags: Apartments & Multifamily