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An individual needs to earn $18.92 an hour to afford a two-bedroom rental at HUD-estimated Fair Market Rent, says a recently released report by the National Low Income Housing Coalition (NLIHC). This figure is referred to as the “Housing Wage.” This wage allows the individual to spend no more than 30 percent of income on housing costs. The report finds that today’s national average Housing Wage is more than two-and-a-half times the federal minimum wage, and 52 percent higher than it was in 2000.
