Redfin Report: A Minimum-Wage Worker Would Have to Work 106 Hours a Week to Afford the Typical U.S. Apartment
Redfin's latest analysis reveals that minimum-wage workers in the U.S. would need to work 106 hours weekly to afford a median-priced apartment of $1,599, assuming the standard 30% income-to-rent ratio. This represents an improvement from August 2022's peak of 125 hours when median rent was $1,704.
The study, based on data through January 2024, uses a national effective minimum wage of $11.59 for 2025. While rents have decreased 6.2% ($105) from their peak, they remain 20.4% ($271) higher than pre-pandemic levels. State-by-state analysis shows significant variations: New Hampshire workers face the highest burden, requiring 224 hours weekly at $7.25/hour to afford a $2,110 median apartment, while South Dakota workers need the least at 75 hours weekly at $11.20/hour for a $1,085 median apartment.
L'ultima analisi di Redfin rivela che i lavoratori con salario minimo negli Stati Uniti dovrebbero lavorare 106 ore settimanali per permettersi un appartamento a prezzo mediano di $1,599, assumendo il consueto rapporto del 30% tra reddito e affitto. Questo rappresenta un miglioramento rispetto al picco di agosto 2022 di 125 ore, quando l'affitto medio era di $1,704.
Lo studio, basato su dati fino a gennaio 2024, utilizza un salario minimo nazionale effettivo di $11.59 per il 2025. Sebbene gli affitti siano diminuiti del 6.2% ($105) rispetto al loro picco, rimangono comunque superiori del 20.4% ($271) rispetto ai livelli pre-pandemia. L'analisi stato per stato mostra variazioni significative: i lavoratori del New Hampshire affrontano il carico maggiore, richiedendo 224 ore settimanali a $7.25/ora per permettersi un appartamento mediano di $2,110, mentre i lavoratori del South Dakota necessitano del minor numero di ore, ovvero 75 ore settimanali a $11.20/ora per un appartamento mediano di $1,085.
El último análisis de Redfin revela que los trabajadores con salario mínimo en EE. UU. tendrían que trabajar 106 horas a la semana para poder pagar un apartamento de precio mediano de $1,599, asumiendo la relación estándar del 30% entre ingresos y alquiler. Esto representa una mejora con respecto al pico de agosto de 2022 de 125 horas, cuando el alquiler mediano era de $1,704.
El estudio, basado en datos hasta enero de 2024, utiliza un salario mínimo nacional efectivo de $11.59 para 2025. Aunque los alquileres han disminuido un 6.2% ($105) desde su pico, siguen siendo un 20.4% ($271) más altos que los niveles anteriores a la pandemia. El análisis estado por estado muestra variaciones significativas: los trabajadores de New Hampshire enfrentan la mayor carga, requiriendo 224 horas semanales a $7.25/hora para poder pagar un apartamento mediano de $2,110, mientras que los trabajadores de Dakota del Sur necesitan la menor cantidad, 75 horas semanales a $11.20/hora para un apartamento mediano de $1,085.
레드핀의 최신 분석에 따르면, 미국의 최저임금 근로자들은 중간 가격 아파트인 $1,599를 감당하기 위해 주당 106시간을 일해야 합니다, 소득과 임대료 비율이 30%라는 가정 하에. 이는 2022년 8월의 125시간에서 개선된 수치로, 그 당시 중간 임대료는 $1,704였습니다.
2024년 1월까지의 데이터를 기반으로 한 이 연구는 2025년의 국가적 유효 최저임금을 $11.59로 설정하고 있습니다. 임대료는 정점에서 6.2%($105) 감소했지만, 여전히 팬데믹 이전 수준보다 20.4%($271) 높은 상태입니다. 주별 분석에서는 상당한 변동성이 나타납니다: 뉴햄프셔의 근로자들은 주당 224시간을 일해야 하며, 시간당 $7.25로 $2,110의 중간 아파트를 감당해야 합니다. 반면, 사우스다코타의 근로자들은 주당 75시간을 일하고, 시간당 $11.20로 $1,085의 중간 아파트를 감당해야 합니다.
La dernière analyse de Redfin révèle que les travailleurs au salaire minimum aux États-Unis devraient travailler 106 heures par semaine pour pouvoir se permettre un appartement au prix médian de $1,599, en supposant le ratio standard de 30% entre le revenu et le loyer. Cela représente une amélioration par rapport au pic d'août 2022 de 125 heures, lorsque le loyer médian était de $1,704.
L'étude, basée sur des données jusqu'en janvier 2024, utilise un salaire minimum national effectif de $11.59 pour 2025. Bien que les loyers aient diminué de 6.2% ($105) par rapport à leur pic, ils restent 20.4% ($271) plus élevés que les niveaux d'avant la pandémie. L'analyse état par état montre des variations significatives: les travailleurs du New Hampshire font face à la plus grande charge, nécessitant 224 heures par semaine à $7.25/heure pour se permettre un appartement médian de $2,110, tandis que les travailleurs du Dakota du Sud ont besoin du moins, soit 75 heures par semaine à $11.20/heure pour un appartement médian de $1,085.
Die neueste Analyse von Redfin zeigt, dass Mindestlohnarbeiter in den USA 106 Stunden pro Woche arbeiten müssten, um sich eine Wohnung zum Medianpreis von $1,599 leisten zu können, vorausgesetzt, dass das Standardverhältnis von 30% zwischen Einkommen und Miete gilt. Dies stellt eine Verbesserung gegenüber dem Höchststand von 125 Stunden im August 2022 dar, als die Medianmiete $1,704 betrug.
Die Studie, die auf Daten bis Januar 2024 basiert, verwendet einen nationalen effektiven Mindestlohn von $11.59 für 2025. Während die Mieten um 6.2% ($105) von ihrem Höchststand gesunken sind, liegen sie dennoch 20.4% ($271) über dem Niveau vor der Pandemie. Die Analyse von Bundesstaat zu Bundesstaat zeigt erhebliche Unterschiede: Arbeitnehmer in New Hampshire stehen unter dem größten Druck, da sie 224 Stunden pro Woche bei $7.25/Stunde arbeiten müssen, um sich eine Medianwohnung von $2,110 leisten zu können, während Arbeitnehmer in South Dakota am wenigsten benötigen, nämlich 75 Stunden pro Woche bei $11.20/Stunde für eine Medianwohnung von $1,085.
- Median U.S. asking rent decreased 6.2% ($105) from peak levels
- Required working hours to afford median rent decreased from 125 to 106 hours weekly
- Median rent remains 20.4% ($271) above pre-pandemic levels
- Current minimum wage workers need 32 hours just to cover rent alone
- Significant affordability gap persists between average housing costs and minimum wage earnings
Insights
This comprehensive Redfin analysis reveals critical structural issues in the U.S. rental market that have significant implications for real estate investors and market dynamics. The requirement of 106 weekly work hours for minimum wage earners to afford median rent represents a fundamental market inefficiency that could drive several key trends:
The 20.4% increase in rents from pre-pandemic levels, despite recent moderation, suggests a sustained shift in rental market fundamentals. This persistent elevation, even as rent growth slows, indicates structural changes in housing demand and supply rather than merely cyclical factors. The regional disparities, exemplified by New Hampshire's 224-hour requirement versus South Dakota's 75 hours, highlight potential opportunities for strategic real estate investment in markets with better affordability metrics.
The data suggests emerging market pressures that could influence property values and investment strategies:
- Increased demand for workforce housing and affordable multifamily developments
- Potential acceleration of migration to more affordable markets
- Growing pressure for policy interventions in high-cost markets
- Opportunities for innovative housing solutions and alternative rental models
For property investors and developers, these affordability challenges present both risks and opportunities. Markets with severe affordability constraints may face increased regulatory scrutiny and potential rent control measures, while more affordable regions could see accelerated population growth and development opportunities. The persistent gap between wages and rents suggests a potential market correction mechanism, either through wage growth, rent moderation, or both, which could significantly impact real estate valuations and investment returns.
That’s down from a peak of 125 hours when rents hit a record high in 2022
Redfin’s report is based on an analysis of median asking rents as of the three months ending Jan. 31, 2025, and 2024 annual wage data. We define an apartment as affordable if a renter making minimum wage spends
A rule of thumb in personal finance is that people should spend no more than
“It’s obviously not realistic for most people to clock into their job for over 100 hours a week, but this thought experiment shines light on the massive rental affordability gap between the average American and our country’s lowest earners,” said Redfin Chief Economist Daryl Fairweather. “It’s virtually impossible for a minimum-wage worker to afford the typical apartment on their own, which is why many have to find ways to reduce their housing expenses, like living with roommates or family members, applying for a spot in public housing, or using Housing Choice Vouchers.”
The
Renting Has Become a Little More Affordable for Minimum-Wage Workers…But Not Much
When the median asking rent peaked in August 2022 at
The median
Today, it would take the average minimum-wage earner 32 hours of work per week just to cover the cost of rent alone, with no money left over for other expenses, assuming they were renting the median-priced
New Hampshire’s Minimum-Wage Workers Have to Work the Most Hours to Afford the Typical Apartment
In
These states top the list because they have among the lowest minimum wages in the nation, and do not have among the lowest rents. For example, New Hampshire’s median asking rent is
South Dakota’s Minimum-Wage Workers Have to Work the Fewest Hours to Afford the Typical Apartment
In
These states all have below-average asking rents, and minimum wages that are not among the lowest in the country. South Dakota’s median asking rent, for example, is
To view the full report, please visit: https://www.redfin.com/news/minimum-wage-rent-affordability
About Redfin
Redfin (www.redfin.com) is a technology-powered real estate company. We help people find a place to live with brokerage, rentals, lending, and title insurance services. We run the country's #1 real estate brokerage site. Our customers can save thousands in fees while working with a top agent. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Our rentals business empowers millions nationwide to find apartments and houses for rent. Since launching in 2006, we've saved customers more than
Redfin’s subsidiaries and affiliated brands include: Bay Equity Home Loans®, Rent.™, Apartment Guide®, Title Forward® and WalkScore®.
For more information or to contact a local Redfin real estate agent, visit www.redfin.com. To learn about housing market trends and download data, visit the Redfin Data Center. To be added to Redfin's press release distribution list, email press@redfin.com. To view Redfin's press center, click here.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250224469191/en/
Contact Redfin
Redfin Journalist Services:
Kenneth Applewhaite
press@redfin.com
Source: Redfin
FAQ
How many hours must a minimum wage worker work to afford median rent in 2024 according to RDFN?
What is the current median asking rent in the US according to RDFN's report?
Which state requires the most working hours for minimum wage workers to afford rent?
How much has the median rent decreased from its 2022 peak according to RDFN?
Which state has the most affordable rent-to-minimum wage ratio according to RDFN's analysis?
