NEW STUDY: Renter households in Baltimore need to make $47,520 a year to afford median rent

By bmorenews on April 16, 2019

(BALTIMORE – April 16, 2019) – A new Apartment List study analyzing median rents in 100 of the largest U.S. cities and the minimum income required to afford them was released. It found that in 24% of the 100 largest U.S. cities, renting a median two-bedroom apartment will cost-burden a median-income-earning renter.

Here are some highlights:

The actual median household income in Baltimore is $48,134. To rent a median-priced 2-bedroom in Baltimore, one will need an annual income of $47,520 to avoid becoming cost-burdened
Hourly wage recommended to rent a median-priced 2-bedroom in Baltimore is $23/hour.
The actual minimum wage in Baltimore is $10/hour.