Iowans Need to Work Between 28 and 35 Hours Per Week to Pay Their Rent

How many hours do you have to work to cover the cost of your rent?  If you are an average Iowan, it's between 28 and 35 hours per week.

According to a new report from Self Financial, residents in Iowa need to work 27.9 hours per week to afford rent for a 1-bedroom dwelling and 35.5 hours per week for a 2-bedroom. That means Iowa residents must work the 2nd fewest hours per week in order to afford rent.

Here is a summary of the data for Iowa:

• Hours needed to afford rent (1-bedroom): 27.9 hours per week
• Hours needed to afford rent (2-bedroom): 35.5 hours per week
• Fair market rent (1-bedroom): $623
• Fair market rent (2-bedroom): $793
• Median hourly wage: $18.41
• Median annual wage: $38,280
• Year-over-year change in rent prices: +0.3%

Here's how Iowa rent compares to the entire United States:

• Hours needed to afford rent (1-bedroom): 42.2 hours per week
• Hours needed to afford rent (2-bedroom): 51.8 hours per week
• Fair market rent (1-bedroom): $980
• Fair market rent (2-bedroom): $1,204
• Median hourly wage: $19.14
• Median annual wage: $39,810
• Year-over-year change in rent prices: +3.6%

Again see the entire report HERE