Missouri renters need to earn $15.67 per hour to afford rent for a two-bedroom home in the state, according to a recent report by the National Low Income Housing Coalition.The threshold for affordability defined in the report is 30 percent of income for someone working 40 hours per week for 52 weeks. The report based home prices on the Fair Market Rent for a two-bedroom apartment in each state.
An analysis of Bureau of Labor Statistics data shows that workers from five major occupation groups in Missouri make less than $15.67 per hour on average.
What’s more, $15.67 is almost double the state’s minimum wage of $7.85 per hour.
Nationwide, the hourly wages required for two-bedroom rental ranged from a low of $9.68 in Puerto Rico to a high of $35.20 in Hawaii. The national average is $21.21.