Rent Costs Outpace Income for Washington State Residents

Rent signPhoto bychris robertonUnsplash

Employees in Washington State are still spending more than they're earning on rent. According to the National Low Income Housing Coalition, Washington State has the fifth-highest housing cost in the country.

Accordingly, it's strongly advised that people plan on spending no more than 30% of their income on rent. Unfortunately, that means that, on average, a renter will need to earn as much as $40 or more to afford a two-bedroom rental. That's over $83,865 annually.

Meanwhile, the average renter in Washington State earns just under $29 per hour, compared to $16.28 per hour for those earning minimum wage. Unfortunately, rent prices are rising faster than incomes.

It's nearly impossible to find an affordable rental in today's market. According to the data for 2024, employees earning minimum wages in any state are unable to meet their obligations and afford a rental.

This is part of what is leading the nation to a homelessness crisis. According to a separate report done at Harvard University last week, renters in many areas of Washington State are "cost-burdened."

It can be nearly impossible to climb out of poverty when the cost of rent outpaces income. According to the National Low Income Housing Coalition, rent for a two-bedroom apartment in Washington State is at least $2,097.

Doing the math, if you're earning a minimum wage of $16.28 per hour, you'll need to work 99 hours per week to avoid paying over 30% of your income in rent. For seniors on a fixed income or those on a disability relying on Supplemental Security Income, there is a huge gap that they aren't able to afford.

Seniors and those on disability can't even begin to afford to pay thirty percent of their income for rent. In rural areas, the average wage to afford a two-bedroom apartment is about $23.70. This is still way out of reach for seniors and the disabled.

How will Washington State address these issues in the future? Will there be more homeless? Will seniors and the disabled have to work part-time to earn enough for rent? What about single-parent households? What are your thoughts on this? How many jobs do you have to work to pay rent?

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