Nowhere in New England can a person earning less than $50,000 per year afford a modest two-bedroom apartment, according to a new national report.
Households in Massachusetts, which has the highest housing costs in the region, need to earn nearly $87,000 annually — or $41.64 per hour — to afford rent and utilities without spending more than 30 percent of their income on housing.
If a household was to spend more than 30 percent of their income on housing alone, it would be considered “cost burdened.”
Maine has the lowest housing cost in the region, where households must earn at least $24.73 per hour — or more than $51,400 annually — to afford an average two bedroom apartment.
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On Wednesday, the National Low Income Housing Coalition released its “Out of Reach” report, an annual compilation of wage data that examines the significant gap between renters’ earnings and the cost of rental housing across the United States.
The report shows that a minimum wage earner working a 40-hour week cannot afford a modest apartment anywhere in the country in 2023.
Here’s what you need to know about housing costs in your state, per the Coalition’s analysis.
Connecticut: A modest two-bedroom apartment is $1,660 per month, on average.
- To afford this level of rent and utilities without being “cost burdened,” a household must earn at least $31.93 per hour, or at least $5,534 monthly or $66,412 annually.
- A person earning minimum wage would need to work 85 hours per week in order to afford a two-bedroom apartment, or 69 hours per week for a one-bedroom apartment.
Maine: A modest two-bedroom apartment is $1,286 per month, on average.
- To afford this level of rent and utilities without being “cost burdened,” a household must earn at least $24.73 per hour, or at least $4,287 monthly or $51,441 annually.
- A person earning minimum wage would need to work 72 hours per week in order to afford a two-bedroom apartment, or 56 hours per week for a one-bedroom apartment.
Massachusetts: A modest two-bedroom apartment is $2,165 per month, on average.
- To afford this level of rent and utilities without being “cost burdened,” a household must earn at least $41.64 per hour, or at least $7,218 monthly or $86,613 annually.
- A person earning minimum wage would need to work 111 hours per week in order to afford a two-bedroom apartment, or 91 hours per week for a one-bedroom apartment.
New Hampshire: A modest two-bedroom apartment is $1,553 per month, on average.
- To afford this level of rent and utilities without being “cost burdened,” a household must earn at least $29.86 per hour, or $5,176 monthly or $62,109 annually.
- A person earning minimum wage would need to work 165 hours per week in order to afford a two-bedroom apartment, or 127 hours per week for a one-bedroom apartment.
Rhode Island: A modest two-bedroom apartment is $1,444 per month, on average.
- To afford this level of rent and utilities without being “cost burdened,” a household must earn at least $27.78 per hour, or $4,815 monthly or $57,779 annually.
- A person earning minimum wage would need to work 85 hours per week in order to afford a two-bedroom apartment, or 71 hours per week for a one-bedroom apartment.
Vermont: A modest two-bedroom apartment is $1,328 per month, on average.
- To afford this level of rent and utilities without being “cost burdened,” a household must earn at least $25.54 per hour, or $4,426 monthly or $53,117 annually.
- A person earning minimum wage would need to work 78 hours per week in order to afford a two-bedroom apartment, or 61 hours per week for a one-bedroom apartment.
Alexa Gagosz can be reached at alexa.gagosz@globe.com. Follow her on Twitter @alexagagosz and on Instagram @AlexaGagosz.