In Only 10 Big Cities Is Rent Actually Affordable
Rising home prices have stolen the headlines in recent years, but rents have been steadily increasing too. In many cities, tenants now struggle to afford apartments and other rentals.
Recently, Zillow determined that of the 50 biggest U.S. rental markets, just 10 offer rents reasonable enough that two full-time workers earning minimum wage could comfortably afford a typical two-bedroom rental.
So if you are on a tight budget, following are the cities to consider calling home.
1. Fresno, California
Full-time minimum-wage jobs needed to comfortably afford a typical two-bedroom rental: 1.6
In Fresno, a city in California’s San Joaquin Valley, the typical rent for a two-bedroom apartment is just $1,168.
Renters in Fresno can find much more affordable digs than renters nationwide. On average across the U.S., nearly four minimum-wage jobs are needed to comfortably afford a typical two-bedroom rental, Zillow says.
2. Tucson, Arizona
Full-time minimum-wage jobs needed to comfortably afford a typical two-bedroom rental: 1.8
The average two-bedroom apartment rents for $1,165 in Tucson, which is actually a few dollars cheaper than in Fresno.
Lower-paid workers in the city recently got an extra boost when Tucson raised its minimum wage from $13 to $13.85 on Jan. 1.
Full-time minimum-wage jobs needed to comfortably afford a typical two-bedroom rental: 1.9
Minneapolis residents pay an average of $1,394 for a two-bedroom apartment.
It is a good thing that rent is relatively affordable in the city because other costs are rising fast. Minneapolis is among the “10 Major U.S. Cities Where Inflation Has Surged.”
Other big cities with affordable rent
Here are the other cities where two full-time workers earning minimum wage can comfortably afford a two-bedroom rental:
- Mesa, Arizona
- Sacramento, California