In North Carolina To Make Rent Off Minimum Wage You’d Have To Work This Long
This is a startling statistic. If you work a minimum wage job in North Carolina you’d have to work 106 per week to afford the average rent. That number comes…
NEW YORK, NY – JUNE 4: Attorney Gloria Allred holds a t-shirt that reads ‘$7.25’ as she arrives for a press conference about the low pay and treatment of former Houston Texans cheerleaders, outside the headquarters of the National Football League (NFL) on Park Avenue, June 4, 2018 in New York City. Allred is helping the former cheerleaders file a lawsuit against the Houston Texans, alleging that they were only paid a minimum wage of $7.25 an hour and that they were not paid for many of the hours that they worked and also endured bullying and a hostile work environment.
(Photo by Drew Angerer/Getty Images)This is a startling statistic. If you work a minimum wage job in North Carolina you'd have to work 106 per week to afford the average rent. That number comes from the National Low Income Housing Coalition's 2022 Out of Reach report. The purpose is to bring awareness to the issue that rent is "out of reach" to many low-income workers across the country.
According to the organization's website:
Out of Reach documents the significant gap between renters’ wages and the cost of rental housing across the United States. The report’s central statistic, the Housing Wage, is an estimate of the hourly wage a full-time worker must earn to afford a modest rental home at HUD’s fair market rent (FMR) without spending more than 30% of their income on housing costs, the accepted standard of affordability. The FMR is an estimate of what a family moving today can expect to pay for a modestly priced rental home in a given area.
To put it into perspective nationally the Housing Wage is $25.82. That is for a modest two-bedroom rental home. A one-bedroom you would need $21.25 to afford. These statistics are based off of the idea that an individual should spend no more than 1/3 of their income on rent.
North Carolina State Facts Regarding Minimum Wage and Rent:
- Minimum Wage: $7.25
- Average Renter Wage: $19.00
- 2-Bedroom Housing Wage: $19.18
- Percent Renters: 34%
Where Do The Numbers Come From?
- Hourly Wage To Afford A 2 Bedroom Fair Market Rent: Divide income needed to afford FMR ($53,699) by 52 (weeks per year) and then by 40 (hours per work week) ($53,699 / 52 = $1,033;$1,033 / 40 = $25.82).
- Annual Income Needed To Afford FMR: Multiply the FMR by 12 to get the yearly rental cost ($1,342.47 x 12 = $16,110). Then divide by .3 to determine the total income needed to afford $16,110 per year in rent ($16,110 / .3 = $53,699).
- Full Time Jobs At Minimum Wage Needed To Afford FMR: National average of jobs needed across all counties, weighted by the number of renter households. To find jobs
needed in a particular state, metro, or county, divide the annual income needed to afford the FMR by 52 (weeks per year). Then divide by the prevailing minimum wage. Then divide by 40 (hours per work week)
The numbers for North Carolina are shocking. It's a well-known fact that it's hard to make ends meet on minimum wage. However, the idea that you'd have to work more than 2 full-time jobs that paid minimum wage to afford rent is unacceptable. Let's take a look at some of the other statistics below and a breakdown of each of North Carolina's metropolitan areas.
All data comes from the National Low Income Housing Coalition's 2022 Out of Reach Report which can be read here.
To Afford Rent In North Carolina On Minium Wage You'd Have To:
- Work 106 hours per week (2.6 full time jobs) to afford a 2-bedroom home
- Work 90 hours per week (2.2 full time jobs) to afford a 1 -bedroom home
North Carolina Statewide
Hourly Wage To Afford 2 Bedroom Fair Market Rent (FMR): $19.18
2 Bedroom FMR: $997
Annual Income Needed To Afford FMR: $39,897
Full Time Jobs At Minimum Wage Needed to Afford FMR: 2.6
North Carolina Combined Non Metro Areas
Hourly Wage To Afford 2 Bedroom Fair Market Rent (FMR): $14.94
2 Bedroom FMR: $777
Annual Income Needed To Afford FMR: $31,076
Full Time Jobs At Minimum Wage Needed to Afford FMR: 2.1
North Carolina Metropolitan Areas
Anson County
Hourly Wage To Afford 2 Bedroom Fair Market Rent (FMR): $15.48
2 Bedroom FMR: $805
Annual Income Needed To Afford FMR: $32,200
Full Time Jobs At Minimum Wage Needed to Afford FMR: $2.1
Asheville
Hourly Wage To Afford 2 Bedroom Fair Market Rent (FMR): $26.50
2 Bedroom FMR: $1,378
Annual Income Needed To Afford FMR: $55,120
Full Time Jobs At Minimum Wage Needed to Afford FMR: 3.7
Brunswick Country
Hourly Wage To Afford 2 Bedroom Fair Market Rent (FMR): $17.81
2 Bedroom FMR: $926
Annual Income Needed To Afford FMR: $37,040
Full Time Jobs At Minimum Wage Needed to Afford FMR: 2.5
Burlington
Hourly Wage To Afford 2 Bedroom Fair Market Rent (FMR): $17.13
2 Bedroom FMR: $35,640
Annual Income Needed To Afford FMR: $981
Full Time Jobs At Minimum Wage Needed to Afford FMR: 2.4
Camden County
Hourly Wage To Afford 2 Bedroom Fair Market Rent (FMR): $18.88
2 Bedroom FMR: $982
Annual Income Needed To Afford FMR: $39,280
Full Time Jobs At Minimum Wage Needed to Afford FMR: 2.6
Charlotte-Concord-Gastonia
Hourly Wage To Afford 2 Bedroom Fair Market Rent (FMR): $22.21
2 Bedroom FMR: $1,155
Annual Income Needed To Afford FMR: $46,200
Full Time Jobs At Minimum Wage Needed to Afford FMR: 3.1
Craven County
Hourly Wage To Afford 2 Bedroom Fair Market Rent (FMR): $18.92
2 Bedroom FMR: $984
Annual Income Needed To Afford FMR: $39,360
Full Time Jobs At Minimum Wage Needed to Afford FMR: 2.6
Davidson County
Hourly Wage To Afford 2 Bedroom Fair Market Rent (FMR): $13.92
2 Bedroom FMR: $724
Annual Income Needed To Afford FMR: $28,960
Full Time Jobs At Minimum Wage Needed to Afford FMR: $1.9
Durham-Chapel Hill
Hourly Wage To Afford 2 Bedroom Fair Market Rent (FMR): $23.06
2 Bedroom FMR: $1,199
Annual Income Needed To Afford FMR: $47,960
Full Time Jobs At Minimum Wage Needed to Afford FMR: 3.2
Fayetteville
Hourly Wage To Afford 2 Bedroom Fair Market Rent (FMR): $17.56
2 Bedroom FMR: $913
Annual Income Needed To Afford FMR: $36,520
Full Time Jobs At Minimum Wage Needed to Afford FMR: 2.4
Gates County
Hourly Wage To Afford 2 Bedroom Fair Market Rent (FMR): $15.29
2 Bedroom FMR: $795
Annual Income Needed To Afford FMR: $31,800
Full Time Jobs At Minimum Wage Needed to Afford FMR: 2.1
Goldsboro
Hourly Wage To Afford 2 Bedroom Fair Market Rent (FMR): $16.33
2 Bedroom FMR: $849
Annual Income Needed To Afford FMR: $33,960
Full Time Jobs At Minimum Wage Needed to Afford FMR: 2.3
Granville County
Hourly Wage To Afford 2 Bedroom Fair Market Rent (FMR): $16.60
2 Bedroom FMR: $863
Annual Income Needed To Afford FMR: $34,520
Full Time Jobs At Minimum Wage Needed to Afford FMR: 2.3
Greensboro-High Point
Hourly Wage To Afford 2 Bedroom Fair Market Rent (FMR): $18.31
2 Bedroom FMR: $952
Annual Income Needed To Afford FMR: $38,080
Full Time Jobs At Minimum Wage Needed to Afford FMR:
Greenville
Hourly Wage To Afford 2 Bedroom Fair Market Rent (FMR): $17.50
2 Bedroom FMR: $910
Annual Income Needed To Afford FMR: $36,400
Full Time Jobs At Minimum Wage Needed to Afford FMR: 2.4
Harnett County
Hourly Wage To Afford 2 Bedroom Fair Market Rent (FMR): $16.46
2 Bedroom FMR: $856
Annual Income Needed To Afford FMR: $34,240
Full Time Jobs At Minimum Wage Needed to Afford FMR: 2.3
Haywood County
Hourly Wage To Afford 2 Bedroom Fair Market Rent (FMR): $18.02
2 Bedroom FMR: $937
Annual Income Needed To Afford FMR: $37,480
Full Time Jobs At Minimum Wage Needed to Afford FMR: 2.5
Hickory-Lenoir-Morganton
Hourly Wage To Afford 2 Bedroom Fair Market Rent (FMR): $13.92
2 Bedroom FMR: $724
Annual Income Needed To Afford FMR: $28,960
Full Time Jobs At Minimum Wage Needed to Afford FMR: 1.9
Hoke County
Hourly Wage To Afford 2 Bedroom Fair Market Rent (FMR): $14.83
2 Bedroom FMR: $771
Annual Income Needed To Afford FMR: $30,840
Full Time Jobs At Minimum Wage Needed to Afford FMR: 2.0
Iredell County
Hourly Wage To Afford 2 Bedroom Fair Market Rent (FMR): $17.79
2 Bedroom FMR: $925
Annual Income Needed To Afford FMR: $37,000
Full Time Jobs At Minimum Wage Needed to Afford FMR: 2.5
Jacksonville
Hourly Wage To Afford 2 Bedroom Fair Market Rent (FMR): $16.85
2 Bedroom FMR: $876
Annual Income Needed To Afford FMR: $35,040
Full Time Jobs At Minimum Wage Needed to Afford FMR: 2.3
Jones County
Hourly Wage To Afford 2 Bedroom Fair Market Rent (FMR): $13.92
2 Bedroom FMR: $724
Annual Income Needed To Afford FMR: $28,960
Full Time Jobs At Minimum Wage Needed to Afford FMR: 1.9
Lincoln County
Hourly Wage To Afford 2 Bedroom Fair Market Rent (FMR): $15.69
2 Bedroom FMR: $816
Annual Income Needed To Afford FMR: $32,640
Full Time Jobs At Minimum Wage Needed to Afford FMR: 2.2
Pamlico County
Hourly Wage To Afford 2 Bedroom Fair Market Rent (FMR): $16.29
2 Bedroom FMR: $847
Annual Income Needed To Afford FMR: $33,880
Full Time Jobs At Minimum Wage Needed to Afford FMR: 2.2
Pender County
Hourly Wage To Afford 2 Bedroom Fair Market Rent (FMR): $17.35
2 Bedroom FMR: $902
Annual Income Needed To Afford FMR: $36,080
Full Time Jobs At Minimum Wage Needed to Afford FMR: 2.4
Person County
Hourly Wage To Afford 2 Bedroom Fair Market Rent (FMR): $15.00
2 Bedroom FMR: $780
Annual Income Needed To Afford FMR: $31,200
Full Time Jobs At Minimum Wage Needed to Afford FMR: 2.1
Raleigh
Getty ImagesHourly Wage To Afford 2 Bedroom Fair Market Rent (FMR): $23.52
2 Bedroom FMR: $1,223
Annual Income Needed To Afford FMR: $48,920
Full Time Jobs At Minimum Wage Needed to Afford FMR: 3.2
Rockingham County
Hourly Wage To Afford 2 Bedroom Fair Market Rent (FMR): $14.52
2 Bedroom FMR: $755
Annual Income Needed To Afford FMR: $30,200
Full Time Jobs At Minimum Wage Needed to Afford FMR: 2.0
Rocky Mount
Hourly Wage To Afford 2 Bedroom Fair Market Rent (FMR): $15.63
2 Bedroom FMR: $813
Annual Income Needed To Afford FMR: $32,520
Full Time Jobs At Minimum Wage Needed to Afford FMR: 2.2
Rowan County
Hourly Wage To Afford 2 Bedroom Fair Market Rent (FMR): $16.81
2 Bedroom FMR: $874
Annual Income Needed To Afford FMR: $34,960
Full Time Jobs At Minimum Wage Needed to Afford FMR: 2.3
Wilmington
Hourly Wage To Afford 2 Bedroom Fair Market Rent (FMR): $22.38
2 Bedroom FMR: $1,164
Annual Income Needed To Afford FMR: $46,560
Full Time Jobs At Minimum Wage Needed to Afford FMR: 3.1
Winston-Salem
Hourly Wage To Afford 2 Bedroom Fair Market Rent (FMR): $15.54
2 Bedroom FMR: $808
Annual Income Needed To Afford FMR: $32,320
Full Time Jobs At Minimum Wage Needed to Afford FMR: 2.1
