Here is What You Need to Afford Renting a Two Bedroom Home in Idaho
The economy is back on the rise, and for many, that is a good thing. The housing market seems to finally be creeping lower but is still far too expensive for most. Businesses are still closing too often, as weekly it seems like another place closes its door to say goodbye forever. While the world has begun to shift back to a form of normalcy and replicate what it was before the shutdown, there is still a ways to go to get back to fully normal. The cost of living during the pandemic rose to heights never seen, even though many were losing jobs and struggling to get by. In Idaho specifically, the cost of living skyrocketed. What does it take to be able to afford a house, even if only to rent?
The Cost of Living in Idaho
Affording rent can often be stressful and tough. Depending on what you are looking for, how many roommates you have, and how much you make can all affect where you end up living. Each state requires a certain amount to be able to afford a one or two-bedroom apartment. If you want to rent a house, you typically have to make more. According to the National Low Income Housing Coalition or the NLIHC, the average person has to make $17 per hour in Idaho to be able to afford the rent for a two-bedroom home. Depending on your job that can seem like a lot, not bad, or right around where you are comfortable. For some this is doable, and for others, this can mean having to work multiple jobs or finding a few roommates.
Cost of Living Per State
When looking around the rest of the country, $17 an hour to afford the rent for a two-bedroom home, is pretty reasonable. The list does include Puerto Rico, which is the lowest at $10 per hour, but of the states, the lowest is $15 and that is a tie between four different states. The highest, which isn't surprising, is California at an astounding $39 per hour, just a dollar more than Hawaii at second. For those wondering why Californians are migrating to Idaho, this is a huge reason why. To afford the same type of house, you have to make more than double what Idahoans make. Idaho is known to be a safer state, where making and affording rent for a two-bedroom house will put you in a rough neighborhood in California for that price, compared to Idaho where it is likely to be safer and a nicer home you are renting.
For those that are struggling or not happy with their living arrangement, you now know what you need to make. To make things simpler it is better to have a few roommates to help combine to an average of $17 and have them help take some of the burdens. Working multiple jobs, having a good-paying job, or having roommates, the blueprint is set to know how to afford a two-bedroom house for rent in Idaho. The next time prices feel high to you for rent, know that it could always be a lot worse, at least you don't live in California or Hawaii.