jillian
Princess
That's what it would take for a NJ resident making minimum wage to afford the average two-bedroom rental in that State
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http://www.nj.com/news/index.ssf/2008/04/n_j_rental_housing_remains_ver.html
New Jersey has dropped from the fourth most expensive state in which to rent to the fifth but that does not mean rents are any more affordable for thousands of people seeking decent housing, according to housing activists. They said today rental costs have jumped 43 percent in the state since 2000.
Rents are higher only in Hawaii, California, New York and Massachusetts.
An annual report released by the Housing and Community Development Network of New Jersey revealed at least 54 percent of wage earners seeking rental housing cannot afford the average $1,157-a-month rent for a two-bedroom apartment, plus utilities. Without paying more than 30 percent of income, a household must earn $3,857 monthly or $22.25 an hour for a 40-hour week. In order to afford the rent while making the minimum wage of $7.15 an hour, a wage earner would have to work 124 hours a week, or more than 19 hours a day.
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http://www.nj.com/news/index.ssf/2008/04/n_j_rental_housing_remains_ver.html