SAN FRANCISCO (CBS SF) – A new survey finds prospective renters would need to earn $60 an hour to afford a modest two-bedroom apartment in San Francisco.

The National Low Income Housing Coalition released its annual “Out of Reach” report Wednesday. It calculates how much a full-time worker must earn to afford a two-bedroom apartment at what HUD determines as a “Fair Market Rent,” without spending more than 30 percent of their income.

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Perhaps not surprising to prospective Bay Area renters, the San Francisco market (San Francisco and San Mateo counties) had the highest “housing wage” in the country. A renter would need to earn $60.02 an hour ($124,840 a year) to afford the fair market rent of $3,121 a month.

Read The Full Report (.pdf)

The San Jose market had the second highest housing wage in the U.S., where a renter would need $48.50 an hour for a two-bedroom apartment going for $2,522 a month.

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Meanwhile, prospective renters in the East Bay would need $44.79 an hour or an annual income of $93,160 for the fair market rent of $2,329 a month, the third highest housing wage in the nation.

Elsewhere in the Bay Area, the group found renters in the fire-impacted Napa and Santa Rosa areas would need to earn more than $30 an hour for a two bedroom ($30.29 and $35.44, respectively.)

The Vallejo-Fairfield area had the lowest housing wage in the Bay Area, where an hourly wage of $25.79 is needed for a two-bedroom apartment going for $1,341 a month.

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Nationally, the group found no metropolitan area in the country where a full-time worker making the federal minimum wage of $7.25 can afford a two-bedroom apartment. The national housing wage for a two bedroom is $22.10 / hour.