ATLANTA — The 2024 “Out of Reach” report from the National Low Income Housing Coalition says that not only is Georgia the 20th highest housing wage requirement in the country, but that to afford an apartment, you may need to work as many as 3.5 full-time jobs.
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The NLIHC’s yearly report on wages versus rental costs showed Georgia had 1.38 million people who rent their homes, equal to about 35% of all Georgia households.
In their report, which examined the cost of fair market rent compared to the minimum wage, Georgians earning just $7.25 per hour would need to work roughly 140 hours per week to make the rent for a two-bedroom apartment.
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The NLIHC’s report includes a section on Georgia which they call the “Housing Wage,” or what is needed to afford various housing setups. The wage requirement ranges from $24.45 to $43.11 depending on if you’re renting a zero-bedroom to four-bedroom residence.
The Fair Market Rent , what the U.S. Department of Housing and Urban Development considers to be what a standard, or average, apartment should cost ranges from $1,272 to $2,242 from zero to four bedrooms, though the actual costs of rent are not always in line with the FMR.
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