Minimum Wage Won’t Pay the Rent in Most U.S. Cities

Written on June 17, 2015 by

Minimum WageHere at Cozy, the company behind Landlordology, we provide industry-leading online tools and resources to make renting easy for everyone.

We have a lot of customers and a lot of data about the rental market:

  • Cozy is used by over 22,000 landlords and 33,000 tenants.
  • Cozy is being used in over 3,400 US cities.
  • We process over 120 Million dollars in rent every year (and growing!)

As an experiment, we pulled together a sampling of actual rent prices in major US cities during the month of May. To our surprise, we discovered something interesting:

It’s nearly impossible to afford a one bedroom apartment anywhere in the US on minimum wage.

Infographic Report

  • A minimum wage renter in San Francisco, would need three roommates to afford a one bedroom apartment.
  • Of all cities, renters in NYC spend 53% of their monthly income on housing – the highest in the nation.
  • A renter gets the most space for the money in Midwest cities, like St. Louis, MO.
Source: Cozy

Minimum Wage Infographic

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And, if you aren’t familiar with Cozy yet, we’re a service that helps landlords and tenants with rent payment, rental applications, and run credit reports.

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