Report: $31k needed to rent one-bedroom apartment in Phoenix

Raising the minimum wage has become a national discussion in the past few months and a few major companies have even raised their wages for hourly workers in response.

This led the Huffington Post to compile data on how minimum wage earners fare in different major cities when compared to cost-of-living expenses.

Rental rates and square footage data was collected using properties on cozy.co. Local and federal government data was used for minimum wage and income. The annual income needed to rent a 1 bedroom claim is based on Housing and Urban Development’s recommendation that renters should spend no more than 30% of their income on housing.

Here’s where Phoenix placed in the two questions asked in the study:

How much do you need to earn annually to rent a 1 bedroom?

Phoenix — $31,980. This is the fourth-lowest on the list behind Cincinnati, Las Vegas and St. Louis.

How many full-time, minimum-wage earners are
needed to afford a typical 1 bedroom?

Phoenix — almost two. The high on the list was New York City where five minimum-wage earners are needed to rent a one-bedroom.