To Afford 2 Bedroom Apartment In Puget Sound, You Have To Work 2.7 Jobs: Report

SEATTLE, WA - A new report from the National Low Income Housing Coalition (NLIHC) lays out the affordability crisis facing renters in the Seattle-Bellevue area. According to the report, a person must earn a minimum of $29.69 per hour - or about $61,000 per year - to afford a two-bedroom apartment. Earning just minimum wage, you would have to work 2.7 jobs to pull down that kind of income.

The NLIHC publishes this study every year, and with each report, the news just gets worse for renters in the Seattle area. According to the 2016 report, a renter needed to earn $29.29 to afford a two-bedroom apartment in the area.

Here are some other highlights from the report:

• To afford a one-bedroom apartment, you would need to earn a minimum $24 per hour in the Seattle area
• The mean area wage for renters is about $22; at that level of pay, a lone renter could afford an apartment that costs $1,159 per month, max
• To afford a studio apartment in the area, a renter would have to earn a minimum of $43,720 per year
• If you earn the state minimum wage of $11 per hour, you would have to work 69 hours per week, on average, to afford to live in Washington
• Statewide, you need to earn $23.64 to afford rent on a two-bedroom
• The situation in Pierce County is slightly better: you only have to earn about $21 per hour to afford a two-bedroom apartment

Someone working 40 hours a week at a minimum wage job in Seattle (earning the $13 minimum wage, which applies to non-tipped employees working at companies with under 500 workers) will earn about $1,670 per month after taxes. If a worker spends 30 percent of pay on housing each month, that means they have about $500 per month to spend on rent.

Are there any places in the Seattle for rent at that price? It turns yes, there is - but just one. Here it is:

$428/month
420 Blanchard St., Seattle
Studio/375 square feet
From the listing: Set against breathtaking Puget Sound residents enjoy community amenities that add value to their lives. Residents of The Windham can take advantage of on-site maintenance, convenient laundry facilities and a professional staff ready to help!

According to the NLIHC report, a "fair-market" price for a two-bedroom apartment is $1,544. Are there any of those? Thankfully, yes:

$1,350
10102 8th Ave S, Seattle
2 bedroom/918 square feet
From the listing: Park South Apartments in Seattle, Washington offers stylish living just minutes from the South Center Mall, or an easy commute to Downtown Seattle.

$1,495
16910 NE 80th St, Redmond
2 bedroom/845 square feet
From the listing: Parkside Apartments are located in a quiet residential area, but close to schools, shopping, and bus lines.

$1,395
10050 Stone Ave N, Seattle
2 bedroom/745 square feet
From the listing: North Seattle Oaktree Upper Unit for Lease in Duplex - Two bedroom, one bathroom available for move in. Close to Northgate Mall, future light rail link.

(See more apartment listings in this price range at Realtor.com.)

Image via Realtor.com