Report: Rent prices too high for minimum wage jobs - WSMV News 4

Report: Rent prices too high for minimum wage jobs

Posted: Updated:

A new report from the National Low Income Housing Association finds you have to work 87 hours per week to afford a two-bedroom apartment in Tennessee if you're making minimum wage. 

"Housing should cost no more than 30 percent of your monthly income; however,  a lot of people are having to push that or pick up second jobs to be able to afford the rent," said Joel Sanders with Nashville Apartment Locators. 

According to the report, Davidson County residents have to make at least $19.41 per hour to afford a two-bedroom apartment, the highest median wage in the state. Williamson County is the second highest in the Midstate at $15.43 per hour. 

RELATED LINK: You'd have to work 122 hours a week to pay rent making minimum wage

"Even some of the least desirable properties, maybe the oldest ones with deferred maintenance in town are still not that inexpensive," Sanders said. 

Marissa Slavinsky recently moved to Nashville from California thinking she'd save money on rent but ended up busting her budget. 

"I could not find anything to match budget as far as amenities I wanted, locations I wanted. I work downtown I wanted to be close," said Slavinsky. "I wanted to make sure the place I lived was home for me and if that cost me an extra $200 a month, then so be it."

The average cost of an apartment in Nashville has increased by $200 in the last four years, according to Sanders. He said rent is typically higher during the spring and summer.

If you're looking to save money, rent during the fall or winter months when rent can be as much as $200 per month cheaper. 

Copyright 2018 WSMV (Meredith Corporation). All rights reserved.
Powered by Frankly
Powered by WorldNow CNN
All content © 2018, WSMV; Nashville, TN. (A Meredith Corporation Station) . All Rights Reserved.
For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.