Rental homes are out of reach for “millions” of low-wage workers — in Florida alone, you’d have to work 91 hours per week to afford a one-bedroom at minimum wage.
That’s according to the 2026 Out of Reach report, published by the National Low Income Housing Coalition, a nonprofit advocacy organization based in Washington, D.C.
The report lists “housing wages” by state and metro area, which it defines as estimates of the income required to afford a rental home at HUD’s Fair Market Rent without spending 30% of one’s wages on housing. Nationally, the housing wage for 2026 was $34.73 per hour for a “modest” two-bedroom rental, and $29.19 for a one-bedroom rental. The average hourly wage for renters was $24.84.
Florida’s Housing Wage
Florida ranked as the 10th most expensive state overall, with an hourly housing wage of $37.93 required to afford a two-bedroom apartment, for which the fair market rent was listed at $1,973.
That means, to afford this level of rent and utilities without spending more than 30% of their income on housing, a renter in Florida must earn $6,575 per month, or $78,905 per year.
South Florida Proved Especially Expensive
Within the state, Monroe County, home of the Florida Keys, topped the list of most expensive areas, requiring a housing wage of $48.15 to afford a two-bedroom at fair market rent. Monroe County also ranked as the second most expensive nonmetropolitan county or county equivalent nationally, beaten only by Nantucket, Massachusetts.
The Miami-Miami Beach-Kendall area followed closely, with a housing wage of $46.85 required to afford a two-bedroom. The Fort Lauderdale area required an hourly wage of $44.87, and the West Palm Beach-Boca Raton area required a wage of $43.35.
Meanwhile, the state’s minimum wage is $14, while the average renter’s wage is $24.27, according to the report.
Areas in Florida With the Highest ‘Housing Wages’
According to the report, the most expensive areas in Florida were as follows, ranked by the housing wages required to afford a two-bedroom apartment at fair market rent, without a given renter having to spend 30% of their income on housing.
Monroe County – $48.15
Miami-Miami Beach-Kendall HUD Metro FMR Area – $46.85
Fort Lauderdale HUD Metro FMR Area – $44.87
West Palm Beach-Boca Raton HUD Metro FMR Area – $43.35
Naples-Marco Island Metropolitan Statistical Area – $38.19
Sarah Perkel is a South Florida Connect Reporter for the USA TODAY Network’s Florida Connect team. You can get all of Florida’s best content directly in your inbox each weekday by signing up for the free newsletter, Florida TODAY.
Reporting by Sarah Perkel, USA TODAY NETWORK / USA TODAY. USA TODAY Network via Reuters Connect.
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