D.C. residents must earn $34.48 an hour to afford a two-bedroom home, report says
“A person earning the District’s minimum wage of $13.25 per hour would have to work 104 hours a week to afford a two-bedroom home in the city, according to a report by the National Low Income Housing Coalition. The report, which examined the average cost of renting in every state and the District, ranked D.C. as among the most expensive places to live. Holding to the axiom that a person shouldn’t put more than 30 percent of wages toward housing costs, the organization found that to afford a two-bedroom home in D.C., renters would have to earn at least $34.48 per hour — nearly five times the federal minimum wage and more than 2.5 times the District’s minimum wage.”