LOCAL NEWS

Study: Renters need to work longer hours to afford rent

Nov 22, 2022, 12:32 PM
rent...
An American worker making the average wage needs to work 63 hours to earn enough to pay the median U.S. rent, which is $2,040, according to the Zillow study. (Photo by David Ryder/Getty Images)
(Photo by David Ryder/Getty Images)

It’s no secret that Seattle rent is high, but a study from Zillow reports people have to work more to afford the average rent in metropolitan areas across the country.

An American worker making the average wage needs to work 63 hours to earn enough to pay the median U.S. rent, which is $2,040, according to the Zillow study. This is three more hours than last year’s average and six more hours than before the start of the COVID-19 pandemic.

Seattle mayor proposes changes to increase affordable housing

As hourly earnings have grown over 23%, the price of rent has likewise increased by 36.9% over the same period.

The average Seattle rent for a one-bedroom apartment is $1,964, according to Zumper. Median rent in Seattle, when you take out the extreme luxury rental prices, is closer to $1,651 a month.

So what’s the average wage that Zillow used? According to the U.S. Bureau of Labor Statistics, the average hourly wage in America is $32.58, or an average salary of $65,160. Comparatively, the median income in the U.S. is $41,535, and in Seattle, for women living alone, the median income was $54,500. For men living alone, it was $59,400.

While Seattle renters only need to work an average of 56 hours, seven less than the national average, with high rents and a growing population, the average Emerald City renter still needs to work seven more hours to afford housing than they did five years ago, the study says.

Seattlites making minimum wage would have to work 88 hours before they reach the median monthly rent price. Those living on a federal minimum wage of $7.25 an hour in the rest of the country need to work a whopping 281 hours to reach the U.S. median rent. That would be seven 40-hour weeks a month.

“The rental market has cooled this year, but so far, that has meant prices are growing more slowly, not any real relief for renters,” said Jeff Tucker, senior economist at Zillow. “Rents were growing at a record pace for much of 2021, squeezing budgets for renters moving or renewing leases.”

Local News

Photo from KIRO 7...
KIRO 7 News Staff

Lawsuit alleges Backstreet Boys’ Nick Carter raped disabled teen after 2001 Tacoma Dome show

A civil lawsuit has been filed against Backstreet Boys’ singer Nick Carter, alleging he raped a disabled teenager following a Feb. 2001 concert at the Tacoma Dome during the band’s Black & Blue Tour.
13 hours ago
power...
L.B. Gilbert

FBI investigating after power grid lines attacked in WA

In a memo sent out by the Department of Homeland Security, there have been reports of attacks at power substations in parts of Washington.
13 hours ago
turf...
Frank Sumrall

Turf, the Seahawks’ treasured team dog, passes away

Turf, the beloved chocolate brown lab, has been with the team since 2013, when Seattle claimed its first and only Super Bowl.
13 hours ago
Hanford discriminated...
Bill Kaczaraba

Labor Department: Applicants allegedly discriminated against at Hanford

An agreement with an environmental cleanup provider for allegation they discriminated against applicants for contract employment at the Hanford Nuclear Site
13 hours ago
House Speaker Nancy Pelosi of Calif., accompanied by Senate Majority Leader Sen. Chuck Schumer of N...
Mary Clare Jalonick, Associated Press

Bill protecting same-sex, interracial unions clears Congress

WASHINGTON (AP) — The House gave final approval Thursday to legislation protecting same-sex marriages, a monumental step in a decadeslong battle for nationwide recognition that reflects a stark turnaround in societal attitudes. President Joe Biden has said he will promptly sign the measure, which requires all states to recognize same-sex marriages. It is a relief […]
13 hours ago
Capital gains tax Olympia meeting legislature...
L.B. Gilbert

Washington legislators to receive 4-7% raises in 2023

All elected positions, including the Secretary of State, Governor, Attorney General, and state legislators, could be receiving a raise in 2023
13 hours ago

Sponsored Articles

Comcast Ready for Business Fund...
Ilona Lohrey | President and CEO, GSBA

GSBA is closing the disparity gap with Ready for Business Fund

GSBA, Comcast, and other partners are working to address disparities in access to financial resources with the Ready for Business fund.
SHIBA WA...

Medicare open enrollment is here and SHIBA can help!

The SHIBA program – part of the Office of the Insurance Commissioner – is ready to help with your Medicare open enrollment decisions.
Lake Washington Windows...

Choosing Best Windows for Your Home

Lake Washington Windows and Doors is a local window dealer offering the exclusive Leak Armor installation.
Anacortes Christmas Tree...

Come one, come all! Food, Drink, and Coastal Christmas – Anacortes has it all!

Come celebrate Anacortes’ 11th annual Bier on the Pier! Bier on the Pier takes place on October 7th and 8th and features local ciders, food trucks and live music - not to mention the beautiful views of the Guemes Channel and backdrop of downtown Anacortes.
Swedish Cyberknife Treatment...

The revolutionary treatment of Swedish CyberKnife provides better quality of life for majority of patients

There are a wide variety of treatments options available for men with prostate cancer. One of the most technologically advanced treatment options in the Pacific Northwest is Stereotactic Body Radiation Therapy using the CyberKnife platform at Swedish Medical Center.
Work at Zum Services...

Seattle Public Schools announces three-year contract with Zum

Seattle Public Schools just announced a three-year contract with a brand-new company to the Pacific Northwest to assist with their student transportation: Zum.
Study: Renters need to work longer hours to afford rent