Friday, February 24, 2017

How Many Hours Do Austinites Have to Work to Pay Rent?

Wondering how many hours you have to work to afford an apartment in Austin?  Culturemap reports on a study by SmartAsset that examines how many hours you have to work to make rent in the country's fifteen biggest cities.

Turns out Austinites work 59.8 hours each month to make the $1,047 median gross rent.  This number was determined by looking at the average hours worked weekly, average weeks worked yearly, median annual income for individuals, and the median monthly gross rent, as determined by the U.S. Census Bureau.  

While Austin’s estimated hourly wage is $17.52, our rent is also the highest of any Texas city in the report.  Dallas residents only make $14 an hour, but their rent is $863, meaning they have to work 61.7 hours to pay rent.  Renters in Houston make $13.91 an hour and have to work 62.8 hours a month to pay $873 in rent.  San Antonio is has the lowest rent in the state, but it also has the lowest wage, so workers have to work the most hours to pay for their rent.  San Antonio renters make $13.53 per hour and have to work 63.3 hours to pay their $856 in rent.  

The study also found that big cities in general cost more to live in than more rural areas as evidenced by the fact that in the two cities where you have to work the least number of hours to afford rent, Indianapolis and Columbus, residents are still working 53.8 hours to make rent.  

At the other end, Los Angeles residents are working 87.7 hours at $13.78 to afford rent.  

Trying to reduce the number of hours you need to work to make rent?  We can help you find a great new apartment that fits in your budget!  Give Austin Apartment Specialists a call today at 512-241-1111!

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