I was listening to a young woman’s podcast I sometimes catch, and there was a portion of her show where she was talking about today’s minimum wages and the cost of the average two bedroom apartments in each state.

First off, what is the minimum wage in each state, you may be asking?

Well, of course, they vary in each state.

So I’ll throw out a few states with their minimum wages.

THEN I’ll share the average median income of 50% of households in their area, and finally the minimum amount of income you must make in order to afford a two-bedroom apartment in said state. These are all 2023 numbers.

I’m going to start with my state:

Colorado:

Minimum Wage: $13.65/hour

Median Income of 50% of Households: $1,452/month

Income in Order to Afford a 2-Bedroom Apartment (Fair Market): $32.13/hour

New Jersey:

Minimum Wage: $14.13/hour

Median Income of 50% of Households: $1,545/month

Income in Order to Afford a 2-Bedroom Apartment (Fair Market): $33.50/hour

Louisiana:

Minimum Wage: $7.25/hour

Median Income of 50% of Households: $945/month

Income in Order to Afford a 2-Bedroom Apartment (Fair Market): $19.39/hour

Texas:

Minimum Wage: $7.25/hour

Median Income of 50% of Households: $1,150/month

Income in Order to Afford a 2-Bedroom Apartment(Fair Market): $25.06/hour

Washington State:

Minimum Wage: $15.74/hour

Median Income of 50% of Households: $1,486/month

Income in Order to Afford a 2-Bedroom Apartment (Fair Market): $36.33/hour

New York:

Minimum Wage: $14.20/hour

Median Income of 50% of Households: $1,331/month

Income in Order to Afford a 2-Bedroom Apartment (Fair Market): $40.08/hour

Pennsylvania:

Minimum Wage: $7.25/hour

Median Income of 50% of Households: $1,255/month

Income in Order to Afford a 2-Bedroom Apartment (Fair Market): $23.61/hour

Missouri:

Minimum Wage: $12.00/hour

Median Income of 50% of Households: $1,140/month

Income in Order to Afford a 2-Bedroom Apartment (Fair Market): $18.54/hour

California:

Minimum Wage: $15.50/hour

Median Income of 50% of Households: $1,429/month

Income in Order to Afford a 2-Bedroom Apartment (Fair Market): $42.25/hour

You can read all the states’ information here.

Now, I don’t know about you, but I don’t make anything near $32/hour here in Colorado. Most jobs I’ve looked at since I’ve job searched from 2021 to present day don’t offer anything close to that amount. The most I’ve seen, at least in my field (well, my old field of office work) was around $20/hour.

Considering most individuals don’t make the amount needed to afford a decent two-bedroom apartment, how do they eat, pay utilities, and perhaps pay a car loan or student loan in addition to that?

I realize from reading several years ago that wages have stagnated since the mid-1970s and haven’t kept up with the cost of living. But I didn’t realize it was THIS BAD.

Do you remember when Bernie Sanders was running for president and was advocating for a $15/hour minimum wage? Although, that was across the board and didn’t account for each state having different minimum wages and costs of living.

I recall a few years back, pulitzer prize winning journalist Chris Hedges saying truly the average minimum wage should be more like $22/hour. That seems more on point for many of the more medium to expensive states.

In any case, I know the couple of decades I have left to work, I’ll never be making what is expected and those expected incomes will likely go up in the subsequent years. When do costs ever go down?

In my opinion, this is horrible and not right. Because wages haven’t been keeping up with cost of living, so many people can’t afford to ever buy a house on their own. Meaning, in order to survive in this terrible economy, a multitude of people/family members must live together with multiple incomes to pay the rent and utilities of an apartment. I know this from firsthand experience, as that’s what the situation is in my family.

So, what are your thoughts on this? Are you one of the few lucky people to be able to afford to live in a house, have a high income, or are you somewhere in between? Maybe you’re struggling like most of us. Share your thoughts. Thanks!

~*~*~*~

Works cited:

“Out of Reach 2023: The High Cost of Housing.” National Low Income Housing Coalition, June 14, 2023.