Each year, Out of Reach demonstrates that large numbers of low income renters cannot afford the cost of living in the cities and towns where they work. This edition underscores the challenges facing the lowest income renters…. In California, the Fair Market Rent (FMR) for a two-bedroom apartment is $1,341. In order to afford this level of rent and utilities – without paying more than 30% of income on housing – a household must earn $4,469 monthly or $53,627 annually. Assuming a 40-hour work week, 52 weeks per year, this level of income translates into a Housing Wage of $25.78.
Link to California Statistics: http://nlihc.org/oor/2013/CA
Link to full report~ Out of Reach, 2013: http://nlihc.org/oor/2013