Affording a rental home is pricey in Arizona, but several other states demand an even higher “housing wage.”A household must earn $62,252 to afford a two-bedroom rental in Arizona, according to the National Low Income Housing Coalition.That means an Arizona renter must earn almost $30 an hour and potentially have more than two jobs paying minimum wage to have a home.Arizona ranks as the 12th toughest state for renters to earn enough to pay for a decent roof over their heads.Top 5 priciest states to afford rentCalifornia, not surprisingly, tops the list with an annual income of $87,877 needed to rent.Need a break? Play the USA TODAY Daily Crossword Puzzle.Hawaii is No. 2 with $87,013 in wages necessary for tenants.Massachusetts comes in at No. 3 with an annual salary of $86,813.New York ranks fourth with $83,375 in income needed to rent.Washington is No. 5 with $75,556 in wages required for leasing.Five most affordable states for rentersArkansas is the best state for renters, who only need $33,836 to afford a two-bedroom apartment.North Dakota ranks second with $37,010 necessary to rent.South Dakota is next, with an annual salary of $36,371 needed to rent a typical two-bedroom home.Mississippi comes in at No. 4 with $35,087 in wages required to afford rent.West Virginia is fifth with the lowest income needed — $434,610.Rent costs in Arizona’s neighboring statesNevada is the 15th priciest state for renting a two-bedroom based on income. A tenant needs to earn $58,212 per year.In New Mexico, renters need an income of $41,349.Utah’s necessary renter wage is $51,861.Colorado tenants need $66,830.In Texas, the rental income needed is $52,134.Reach the reporter at catherine.reagor@arizonarepublic.com or 602-444-8040. Follow her on X, formerly Twitter: @CatherineReagor. …
[wpts_spin]{Read|See} the {entire|full} article {on|about} rental market trends in Arizona, or, read more news about {Arizona real estate investing|real estate investing in Arizona|real estate investing in Arizona}. We {warmly |}{welcome and |}encourage you to {mention|recommend} our site to your{ circle of|} fellow investors, {letting them |allowing them to }benefit from the valuable{ resources and|} insights we provide. {Thanks!|Thank you!}[/wpts_spin]
