How Much Money You Need To Make As New Hampshire Renters Market Explodes
Gasoline hovering around the three dollar mark isn't the only ticket continuing to rise in the Granite State.
Soaring rents in New Hampshire have placed it in the top 15 of most expensive states for rentals. The data, provided by the National Low Income Housing Coalition rates New Hampshire as the fourteenth most expensive. Plus, the data shows average renters are struggling. A renter needs to earn over $22 an hour afford a two bedroom home in New Hampshire. However, the average renter makes a little over $15 an hour. With this rate, a worker earning minimum wage would have to work 123 hours per week.
According to the site, at 30% of income, affordable rent for a minimum wage worker is listed at $377 per month. A worker earning an average income is listed at $787 per month. However, fair market value has a one bedroom at $908, and a 2 bedroom at $1,160 here in New Hampshire.
Think it's bad here? Massachusetts came in at 9th, and Vermont placed at 13th. Of the surrounding areas, only Maine came in more affordable at 23rd. As they say, "Ayuh."