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California Third Most Expensive in the Nation for Renters

 
California Third Most Expensive in the Nation for Renters
Posted March 27th, 2014 @ 5:01pm by KFBK News

California is apparently the third most expensive state in the nation for renters.  

The National Low Income Housing Coalition's Out of Reach report finds a renter in the Golden State needs to earn at least $26.04 an hour to afford a two-bedroom home.  

But research analyst Althea Arnold says the average California renter's wage is only $18.50 an hour.  

"The gap between to earn to afford rent and what they are actually earning clearly points to a dire need for affordable housing," Arnold said. 

She says an average renter would have to work 56 hours a week, 52 weeks a year to pay the rent.  

The report ranks Hawaii as the highest priced state for renters, and Washington D.C. comes in second.  

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