How Much You Have To Make To Afford Rent – No Surprise, Massachusetts Is Near The Top
It’s no secret that Massachusetts is one of the most expensive states to live in the United States. Now, thanks to a study from the National Low Income Housing Coalition, we know exactly how much money one needs to make to be able to afford rent in Massachusetts, and it’s not pretty. Overall, Massachusetts ranks #3 for the most expensive states to live. The study looked at minimum wage and how much it would take for you to be able to afford a modest one bedroom apartment and how many hours you’d need to work. To live in Massachusetts, with the minimum wage being $15.00 an hour, you’d need to work 91 hours EACH WEEK to afford a modest 1 bedroom rental home at Fair Market Rent. The average one bedroom apartment in Massachusetts at fair market rent is $1772 a month and the average two bedroom apartment in Massachusetts at fair market rent is $2165.
They even look at the different occupations and how much each makes per hour. For example, people working as cashiers, in retail, servers, cooks, janitors, teachers, nursing assistants make anywhere from $15-$20 an hour. They also look at the average income needed to be able to afford the different apartments in Massachusetts. For a 1 bedroom, the annual salary needed is $70,899. The income needed to afford the average 2 bedroom apartment in MA is $86,613.
Two other states in New England made the top 20 of most expensive to rent. Connecticut is ranked ninth and Rhode Island is ranked 16th. In CT, you must make $32 an hour and work 85 hours a week. While in RI, you must make $28 an hour and work 85 hours a week.
Now with all of that being said, there is an ultimate list of places to live IN Massachusetts, should you decide to stay here. Keep scrolling for the top 10 places.