You Need to Earn $17.50 an Hour to Afford Rent for a Decent One-Bedroom Apartment in Miami
Florida's minimum wage is $7.93 an hour, but you'd need to make almost $10 more an hour if you want to rent a one-bedroom apartment in Miami-Dade. A Washington Post analysis shows that based on average rental price for a one-bedroom apartment in Miami-Dade, you'd have to make at least $17.50 an hour in a full-time job in order to make rent.
In other words, you'd have to make at least $36,400 a year. The median family income in Miami-Dade is just under that, at $35,966. The median male makes $30,120, while women make $24,686 a year.
In other words, the average family, let alone the average single person, couldn't afford to rent a decent one-bedroom apartment at market rate in Miami.
The figures come from what the Department of Housing and Urban Development considers a "fair market rent" -- which means the amount someone would need to pay for rent and utilities on a "decent" apartment in a county. The amount someone would need to earn an hour to afford that apartment is considered a "housing wage."
Of America's 3,144 counties, Miami-Dade has the 135th highest housing wage. But the story in Miami isn't quite as bad as in Broward, where someone would have to make $19.08 an hour, or just under $40,000 each year, to afford rent on a one-bedroom apartment.
Get the ICYMI: Today's Top Stories Newsletter Our daily newsletter delivers quick clicks to keep you in the know
Catch up on the day's news and stay informed with our daily digest of the most popular news, music, food and arts stories in Miami, delivered to your inbox Monday through Friday.