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Report: Tampa, St. Pete residents need to make $21.79 an hour to pay rent

The research sheds light on a nationwide shortage of affordable living arrangements.
Credit: Getty Images/iStockphoto
Apartment for rent sign displayed on residential street.

TAMPA, Fla. — A new study suggests you'd need to work three full-time jobs at minimum wage in order to afford a two bedroom apartment in Tampa or St. Petersburg.

In its 2019 report, the National Low Income Housing Coalition, which advocates for affordable living options, said the hourly wage necessary to afford a two-bedroom home in the Tampa Bay area is $21.79. That's a $45,300 per year salaried job.

Alternatively, the researchers say you'd need to work 2.6 full-time minimum wage jobs to afford such a place. So, you'd either need three full-time jobs at minimum wage or two full-time gigs and a part-time arrangement to make ends meet -- based on this study.

Previous: Central Florida one of the worst in nation for affordable housing, report shows

"This country has a shortage of over 7 million affordable homes for America’s 11 million lowest income families," U.S. Rep. Ayanna Pressley, a Democrat from Massachusetts, wrote in a preface to the study.

Pressley urged Congress to be proactive in advancing solutions to the shortage of affordable housing nationwide.

The research ranked Florida as the 15th most expensive place to find housing. Hawaii was the most expensive state.

The most expensive metropolitan area was San Francisco, where the report says you'd need to make $60.96 per hour to afford a two-bedroom place.

Click here to read the findings.

Related: Local nonprofit tackles affordable housing crisis one home at a time

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