You Need to Make $16.46 an Hour to Afford Rent in Wyoming
A report from the National Low Income Housing Collation states that housing costs are “out of reach” for both the average renter and for millions of low-wage households throughout the country.
The report says that in order to afford a modest two-bedroom apartment in Wyoming, a person would need to make at least $16.46 an hour, A.K.A the state's housing wage.
The state's housing wage of $16.46 is found in this way:
In Wyoming, the Fair Market Rent (FMR) for a two-bedroom apartment is $856. In order to afford this level of rent and utilities — without paying more than 30% of income on housing — a household must earn $2,853 monthly or $34,236 annually. Assuming a 40-hour work week, 52 weeks per year, this level of income translates into an hourly Housing Wage...
It's a few cents higher in Cheyenne ($16.98) and Casper ($16.75).
The current minimum wage in Wyoming is $7.25 per hour (the same as the federal minimum wage).
The average Fair Market Rent in Wyoming in 2018 was $856. Someone earning minimum wage in Wyoming would need to work over 90 hours a week to afford that an not have to spend more than 30% of their income on housing.
That's two full-time and one part-time job in order to afford a place to live. That's not including food, child-care, medical care or transportation.
The numbers for Wyoming pale in comparison to the states with the highest housing wage for a modest two-bedroom rental.
- Hawaii, with a two-bedroom Housing Wage of $36.13
- District of Columbia, with a two-bedroom Housing Wage of $34.48
- California, with a two-bedroom Housing Wage of $32.68
- New York, with a two-bedroom Housing Wage of $30.03
- Maryland, with a two-bedroom Housing Wage of $29.04
For our neighbor to the south, Colorado, the housing wage for a modest two-bedroom rental is $23.93. The minimum wage in Colorado is $10.20.
You can see the full 2018 report at nlihc.org.