In N.H., Minimum Wage Earners Need 2.8 Jobs To Afford 2-Bedroom Apartment

In order to afford a two-bedroom apartment in New Hampshire, a renter would need to work 2.8 minimum-wage jobs. The math breaks down like this:

According to HUD’s Fair Market Rent documentation, a two-bedroom apartment will cost about $1,065 in New Hampshire. In order to spend only 30 percent of one’s income on rent, a renter would need to earn $3,548 each month, or $42,580 each year.

New Hampshire has a minimum wage of $7.25. Working 40 hours a week, all year round, a minimum wage earner will make only $15,080. That’s according to the National Low Income Housing Coalition’s Out of Reach 2013 report.

New Hampshire housing came in at 12th most expensive in the nation, with Hawaii coming in 1st, followed by Washington DC, California, and New York. Massachusetts came in 7th, Vermont 16th, and Maine 23rd.

Comments

  • JR

    So here’s a suggestion — if you don’t have any labor market skills that an employer values at more than minimum wage, hold off on renting a 2-bedroom apartment. Share an apartment with friends or live with family while going to school to so that you can earn more in the future. Then get a 2-bedroom apartment.

  • Steven Allen

    Why are we talking about minimum wage. As a employer I can tell you that it hard to find any one good for less then $9.00 to $10.00 per hour. The focus should be to reduce the incentives not to work and to help people to be more employable.

About StateImpact

StateImpact seeks to inform and engage local communities with broadcast and online news focused on how state government decisions affect your lives.
Learn More »

Economy
Education