Study Found Insane Amount Of Money Utahns Have To Make To Afford Apartments
By Ginny Reese
July 15, 2021
A new study found the ridiculous amount of money that Utah residents need to make in order to afford a two-bedroom apartment in the state.
The Out of Reach 2021 study found that residents need to earn at least $20.21 per hour in order to be able to afford to rent a two-bedroom apartment or house.
Considering the average hourly wage in the state falls around $15.66 per hour, this is a big problem.
If an individual were only earning minimum wage ($7.25), they would need to work a whopping 92 hours per week to afford a modest one bedroom rental home.
According to Tara Rollins, executive director of the Utah Housing Coalition, most renters in the state are "living on the edge."
"The golden rule is pay 30 percent of your income to housing, and we have so many people that are paying more than 50 percent of their income to housing."
The report stated that the COVID-19 pandemic opened eyes and shined a light on the need for a larger safety net when it comes to affordable housing.
The report states:
"Long after the public health dangers and economic crisis gradually recede, low-wage workers and low-income renters will continue to be in a precarious position, until we create permanent solutions to widespread housing unaffordability."