It Takes 2.7 Full Time Jobs To Pay Rent at Minimum Wage In South Carolina
This is a startling statistic. If you work a minimum wage job in South Carolina you’d have to work 106 per week to afford the average rent. That number comes…
NEW YORK, NY – JUNE 4: Attorney Gloria Allred holds a t-shirt that reads ‘$7.25’ as she arrives for a press conference about the low pay and treatment of former Houston Texans cheerleaders, outside the headquarters of the National Football League (NFL) on Park Avenue, June 4, 2018 in New York City. Allred is helping the former cheerleaders file a lawsuit against the Houston Texans, alleging that they were only paid a minimum wage of $7.25 an hour and that they were not paid for many of the hours that they worked and also endured bullying and a hostile work environment.
(Photo by Drew Angerer/Getty Images)This is a startling statistic. If you work a minimum wage job in South Carolina you'd have to work 106 per week to afford the average rent. That number comes from the National Low Income Housing Coalition's 2022 Out of Reach report. The purpose is to bring awareness to the issue that rent is "out of reach" to many low-income workers across the country.
According to the organization's website:
Out of Reach documents the significant gap between renters’ wages and the cost of rental housing across the United States. The report’s central statistic, the Housing Wage, is an estimate of the hourly wage a full-time worker must earn to afford a modest rental home at HUD’s fair market rent (FMR) without spending more than 30% of their income on housing costs, the accepted standard of affordability. The FMR is an estimate of what a family moving today can expect to pay for a modestly priced rental home in a given area.
To put it into perspective nationally the Housing Wage is $25.82. That is for a modest two-bedroom rental home. A one-bedroom you would need $21.25 to afford. These statistics are based off of the idea that an individual should spend no more than 1/3 of their income on rent.
South Carolina State Facts Regarding Minimum Wage and Rent:
- Minimum Wage: $7.25
- Average Renter Wage: $18.98
- 2-Bedroom Housing Wage: $19.30
- Percent Renters: 30%
Where Do The Numbers Come From?
- Hourly Wage To Afford A 2 Bedroom Fair Market Rent: Divide income needed to afford FMR ($53,699) by 52 (weeks per year) and then by 40 (hours per work week) ($53,699 / 52 = $1,033;$1,033 / 40 = $25.82).
- Annual Income Needed To Afford FMR: Multiply the FMR by 12 to get the yearly rental cost ($1,342.47 x 12 = $16,110). Then divide by .3 to determine the total income needed to afford $16,110 per year in rent ($16,110 / .3 = $53,699).
- Full Time Jobs At Minimum Wage Needed To Afford FMR: National average of jobs needed across all counties, weighted by the number of renter households. To find jobs
needed in a particular state, metro, or county, divide the annual income needed to afford the FMR by 52 (weeks per year). Then divide by the prevailing minimum wage. Then divide by 40 (hours per work week)
The numbers for South Carolina are shocking. It's a well-known fact that it's hard to make ends meet on minimum wage. However, the idea that you'd have to work more than 2 full-time jobs that paid minimum wage to afford rent is unacceptable. Let's take a look at some of the other statistics below and a breakdown of each of South Carolina's metropolitan areas.
All data comes from the National Low Income Housing Coalition's 2022 Out of Reach Report which can be read here.
To Afford Rent In North Carolina On Minium Wage You'd Have To:
- Work 106 hours per week (2.7 full time jobs) to afford a 2-bedroom home
- Work 91 hours per week (2.3 full time jobs) to afford a 1 -bedroom home
South Carolina Metropolitan Areas
Anderson
Hourly Wage To Afford 2 Bedroom Fair Market Rent (FMR): $16.02
2 Bedroom FMR: $833
Annual Income Needed To Afford FMR: $33,320
Full Time Jobs At Minimum Wage Needed to Afford FMR: 2.2
Augusta-Richmond County
Hourly Wage To Afford 2 Bedroom Fair Market Rent (FMR): $17.42
2 Bedroom FMR: $902
Annual Income Needed To Afford FMR: $36,240
Full Time Jobs At Minimum Wage Needed to Afford FMR: 2.4
Beaufort
Hourly Wage To Afford 2 Bedroom Fair Market Rent (FMR): $24.10
2 Bedroom FMR: $1,253
Annual Income Needed To Afford FMR: $50,120
Full Time Jobs At Minimum Wage Needed to Afford FMR: 3.3
Charleston-North Charleston
Hourly Wage To Afford 2 Bedroom Fair Market Rent (FMR): $26.38
2 Bedroom FMR: $1,372
Annual Income Needed To Afford FMR: $54,880
Full Time Jobs At Minimum Wage Needed to Afford FMR: 3.6
Chester County
Hourly Wage To Afford 2 Bedroom Fair Market Rent (FMR): $13.69
2 Bedroom FMR: $712
Annual Income Needed To Afford FMR: $28,480
Full Time Jobs At Minimum Wage Needed to Afford FMR: 1.9
Clarendon Country
Hourly Wage To Afford 2 Bedroom Fair Market Rent (FMR): $13.69
2 Bedroom FMR: $712
Annual Income Needed To Afford FMR: $28,480
Full Time Jobs At Minimum Wage Needed to Afford FMR: 1.9
Columbia
Hourly Wage To Afford 2 Bedroom Fair Market Rent (FMR): $19.04
2 Bedroom FMR: $990
Annual Income Needed To Afford FMR: $39,600
Full Time Jobs At Minimum Wage Needed to Afford FMR: 2.6
Darlington County
Hourly Wage To Afford 2 Bedroom Fair Market Rent (FMR): $13.87
2 Bedroom FMR: $721
Annual Income Needed To Afford FMR: $28,840
Full Time Jobs At Minimum Wage Needed to Afford FMR: 1.9
Florence
Hourly Wage To Afford 2 Bedroom Fair Market Rent (FMR): $16.00
2 Bedroom FMR: $832
Annual Income Needed To Afford FMR: $33,280
Full Time Jobs At Minimum Wage Needed to Afford FMR: 2.2
Greenville
Hourly Wage To Afford 2 Bedroom Fair Market Rent (FMR): $19.08
2 Bedroom FMR: $992
Annual Income Needed To Afford FMR: $39,680
Full Time Jobs At Minimum Wage Needed to Afford FMR: 2.6
Jasper County
Hourly Wage To Afford 2 Bedroom Fair Market Rent (FMR): $17.87
2 Bedroom FMR: $929
Annual Income Needed To Afford FMR: $37,160
Full Time Jobs At Minimum Wage Needed to Afford FMR: 2.5
Kershaw County
Hourly Wage To Afford 2 Bedroom Fair Market Rent (FMR): $14.62
2 Bedroom FMR: $760
Annual Income Needed To Afford FMR: $30,400
Full Time Jobs At Minimum Wage Needed to Afford FMR: 2.0
Lancaster County
Hourly Wage To Afford 2 Bedroom Fair Market Rent (FMR): $16.23
2 Bedroom FMR: $884
Annual Income Needed To Afford FMR: $33,760
Full Time Jobs At Minimum Wage Needed to Afford FMR: 2.2
Laurens County
Hourly Wage To Afford 2 Bedroom Fair Market Rent (FMR): $15.06
2 Bedroom FMR: $783
Annual Income Needed To Afford FMR: $31,320
Full Time Jobs At Minimum Wage Needed to Afford FMR: 2.1
Myrtle Beach-North Myrtle Beach-Conway
Hourly Wage To Afford 2 Bedroom Fair Market Rent (FMR): $20.42
2 Bedroom FMR: $1,602
Annual Income Needed To Afford FMR: $42,480
Full Time Jobs At Minimum Wage Needed to Afford FMR: 2.8
Spartanburg
Hourly Wage To Afford 2 Bedroom Fair Market Rent (FMR): $16.62
2 Bedroom FMR: $864
Annual Income Needed To Afford FMR: $32,560
Full Time Jobs At Minimum Wage Needed to Afford FMR: 2.3
Sumter
Hourly Wage To Afford 2 Bedroom Fair Market Rent (FMR): $16.37
2 Bedroom FMR: $851
Annual Income Needed To Afford FMR: $34,040
Full Time Jobs At Minimum Wage Needed to Afford FMR: 2.3
