By Jordan Rosenfeld July 8, 2021
GOBankingRates conducted a study to analyze just how much money minimum-wage earners make on a state-by-state basis, and whether a person can afford to rent an apartment (even with roommates) while earning the minimum wage, using data from the U.S. Department of Labor and the Bureau of Labor Statistics.
South Carolina
- Minimum hourly wage: $7.25
- Annual income on the minimum wage: $15,080
- Monthly rent one person can afford on minimum wage: $325.34
- Average studio rent: $610
- Average one-bedroom rent: $657
- Average two-bedroom rent: $788
- Average three-bedroom rent: $1,044
A minimum-wage worker can’t afford a studio or one-bedroom apartment in South Carolina. Neither can two or three minimum-wage workers sharing a two- or three-bedroom apartment.
Texas
- Minimum hourly wage: $7.25
- Annual income on the minimum wage: $15,080
- Monthly rent one person can afford on minimum wage: $325.34
- Average studio rent: $608
- Average one-bedroom rent: $669
- Average two-bedroom rent: $829
- Average three-bedroom rent: $1,106
A minimum-wage worker can’t afford a studio or one-bedroom apartment in Texas. Roommates won’t help. Two or three minimum-wage workers can’t afford to rent a two- or three-bedroom apartment together, either.
Ohio
- Minimum hourly wage: $8.70
- Annual income on the minimum wage: $18,096
- Monthly rent one person can afford on minimum wage: $390.41
- Average studio rent: $540
- Average one-bedroom rent: $604
- Average two-bedroom rent: $761
- Average three-bedroom rent: $992
A minimum-wage worker can’t afford a studio or one-bedroom apartment in Ohio. However, two or three minimum-wage workers will be able to rent a two- or three-bedroom apartment together.
Illinois
- Minimum hourly wage: $10
- Annual income on the minimum wage: $20,800
- Monthly rent one person can afford on minimum wage: $448.75
- Average studio rent: $556
- Average one-bedroom rent: $624
- Average two-bedroom rent: $787
- Average three-bedroom rent: $1,033
A minimum-wage worker can’t afford a studio or one-bedroom apartment in Illinois. Two or three minimum-wage workers can afford to rent a two- or three-bedroom apartment together, however.
Connecticut
- Minimum hourly wage: $12
- Annual income on the minimum wage: $24,960
- Monthly rent one person can afford on minimum wage: $538.50
- Average studio rent: $870
- Average one-bedroom rent: $1,033
- Average two-bedroom rent: $1,294
- Average three-bedroom rent: $1,644
A minimum-wage worker can’t afford a studio or one-bedroom apartment in Connecticut. Rents are prohibitively high for even two or three minimum-wage workers to afford to rent a two- or three-bedroom apartment together.
Find your state HERE.