Washington State Rental Cost Stats Look Grim.

The National Low Income Housing Coalition has produced a nationwide report analyzing and comparing the cost of rent to wages. The Washington State highlights are below.

Statewide:

• $21.69: Fair Housing Wage (wage necessary to afford Fair Market Rent (hereafter "FMR") without paying more than 30% of income to rent & utilities)
• 92: Work hours per week at minimum wage to afford Rent (FMR).
• 2.3: number of full-time jobs at minimum wage to afford Rent (FMR).
• 2 Bedroom FMR: $1,128.00
• $3,760.00: Monthly ($45,119.00 annually) income necessary for FMR to be affordable.

Wenatchee & East Wenatchee Metropolitan Area

• $14.65: Fair Housing Wage (wage necessary to afford Fair Market Rent (hereafter "FMR") without paying more than 30% of income to rent & utilities)
• 1.5: number of full-time jobs at minimum wage to afford Rent (FMR).
• 2 Bedroom FMR: $762.00
• $2,540.00: Monthly ($30,480.00 annually) income necessary for FMR to be affordable.

Fair Market Rent (including utilities) is the cost for a two-bedroom apartment, i.e. $1,128.00 statewide and $762.00 in Wenatchee.

Affordability is defined as the ability of a renter to pay no more than 30% of its income on housing (including utilities), this is the federal standard for affordability.