Monday, February 26, 2018

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

How many hours do you have to work to pay rent in Austin and other Texas cities? Austin Culturemap reports on findings by SmartAsset.

The numbers were reached by examining the annual take home pay, average hours worked annually, and median rent for each city. Statistics came from the U.S. Census. To calculate how many hours residents have to work, they divided the median rent by the average hourly wage.

Austin residents have to work 64 hours a month at the hourly wage of $18.64 to make median rent of $1,194. That put Austin in the 13th spot on the list. San Antonio dwellers have to work 64.3 hours at the lower hourly wage of $14.36 to pay the median rent of $924, making it number 12. 

Houston was number 10, largely due to residents low average earnings ($31,060 annually, or $14.36 per hour post tax). Houstonians have to put in 66.3 hours to cover their rent of $952 a month. Dallas was number 11 with residents needing to work 64.5 hours at $14.50 to pay median rent of $935. Fort Worth ranked 15th and residents have to work 63.4 hours at $15.36 to cover the rent of $974.

El Paso was the most affordable Texas city. Residents there enjoy paying just $778 for rent and can cover their housing costs by working 63 hours at $12.36 per hour.

Looking to find an apartment that fits your budget in Austin? Apartment Specialists South Austin can help! Give us a call today at 512-912-8000!