You Need to Earn $17.50 an Hour to Afford Rent for a Decent One-Bedroom Apartment in Miami
Florida's minimum wage is $7.93 an hour, but you'd need to make almost $10 more an hour if you want to rent a one-bedroom apartment in Miami-Dade. A Washington Post analysis shows that based on average rental price for a one-bedroom apartment in Miami-Dade, you'd have to make at least $17.50 an hour in a full-time job in order to make rent.
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In other words, you'd have to make at least $36,400 a year. The median family income in Miami-Dade is just under that, at $35,966. The median male makes $30,120, while women make $24,686 a year.
In other words, the average family, let alone the average single person, couldn't afford to rent a decent one-bedroom apartment at market rate in Miami.
The figures come from what the Department of Housing and Urban Development considers a "fair market rent" -- which means the amount someone would need to pay for rent and utilities on a "decent" apartment in a county. The amount someone would need to earn an hour to afford that apartment is considered a "housing wage."
Of America's 3,144 counties, Miami-Dade has the 135th highest housing wage. But the story in Miami isn't quite as bad as in Broward, where someone would have to make $19.08 an hour, or just under $40,000 each year, to afford rent on a one-bedroom apartment.