To no one's surprise, Austin is one of the most expensive cities to live in in Texas.
Residents here need to earn around $23 an hour to afford rent for a standard two-bedroom apartment, a new report finds. That’s more than three times the state’s minimum wage of $7.25.
The National Low Income Housing Coalition report looked at the wages needed to afford rent in cities and states across the country. Texas was the 22nd most expensive state for renters, requiring an average wage of $18.38 per hour to afford a two-bedroom; Hawaii was most expensive state at $35.20 per hour.
Travis County was the third most expensive area in Texas, behind Midland and Odessa. The fair market rent for a typical two-bedroom apartment in Austin is about $1,195, meaning you'd need to earn $22.98 an hour.
Affordable rent for someone making minimum wage here is $377.
The minimum wage in Texas has been $7.25 per hour since 2009. Some state lawmakers are fighting to raise it to $10.10; a few want to double it. None of the bills addressing the issue made it to governor's desk this legislative session.
Read the report below.
