SAN FRANCISCO (CBS SF) – A new report finds six of the 10 most expensive counties in the country to rent a modest two-bedroom apartment are located in the Bay Area, and a worker would need to earn over $60 an hour to rent in three of those counties.

This week, the National Low Income Housing Coalition released its annual “Out of Reach” report calculating 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.

San Francisco, Marin and San Mateo Counties are in a three-way tie for the most expensive county to rent in the entire U.S. Prospective renters working full-time would need to earn $60.96 an hour, or nearly $127,000 a year, to afford a two-bedroom in those counties without being considered “cost-burdened.”

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In Santa Clara County, an hourly wage of $54.60 is needed for a two-bedroom. Meanwhile, the group determined that a wage of $40.88 is needed to rent in Alameda and Contra Costa counties.

Nationwide, the group found no metropolitan areas where a full-time worker making minimum wage could afford a two-bedroom apartment.

Wage Needed To Rent A Two-Bedroom (Bay Area Counties In Bold):

1 (tie). Marin – $60.96 / hour
1 (tie). San Francisco – $60.96
1 (tie). San Mateo – $60.96
4. Santa Clara – $54.60
5. Santa Cruz – $46.90
6 (tie). Alameda – $40.88
6 (tie). Contra Costa – $40.88
8. San Diego – $39.77
9. Honolulu – $39.75
10. Orange, CA – $39.17

Comments (14)
  1. I must say, the Demonkkkrats did a great job of eliminating working people and part of the middle class from the area! Good job, you leftist multi-millionaires! This is not elitist at all!

    1. Julian Christian says:

      Isn’t this capitalism? Supply and demand? Free market? I think Democrats push for things like rent control and an in increased minimum wage.

      1. Shemena Campbell says:

        You are correct. @KCBS_Sucks, I’m not sure where you got the idea that Democrats are all rich elitists, but then again, I thought that Republicans were down for multi-millionaires.

    2. LOL. This is precisely supply and demand at work. I think that it is funny that you think that the fact that democrats have created a highly desirable place to live, with a surplus of jobs, is a bad thing. They need to address the housing crisis, but the reason the housing is so expensive is that too many people want to live there. That’s a bad thing? That’s hysterical.

  2. Stephen Beveridge says:

    Why not just list the cost of the lease instead of the drama….because Fake News?

    1. Toby Lundy says:

      or maybe they give you enough data to work it out yourself, because every place is different, a $61 wage at full-time, at a shelter cost of 30% = an *average* monthly cost of a 2 bedroom place being roughly $2900