The 2020 Out of Reach report published by the National Low Income Housing Coalition shows how much a person would need to make per hour, working full-time, in order to afford a two-bedroom apartment without spending more than 30 percent of their income.
The report found that a Florida resident should make $24.43 an hour for a yearly salary of $50,807 in order to comfortably afford a two-bedroom home. The report calculates the average price of a two-bedroom home at $1,270.
However, according to the report, it is recommended that South Florida residents earn even more.
South Florida residents are recommended to earn $29.38 -$31.25 an hour for an annual salary of $61,120 -$65,000 to afford rent for a two-bedroom home at $1,528- $1,625. This number has gone up from the NLIHC’s 2019 report.