Here's What You Need To Make Hourly To Afford A 2 Bedroom Rental In Every State

New Report by the National Low-Income Housing Coalition offers grim reality check.

By Michael Arria

Every year Out of Reach, a program from the National Low-Income Housing Coalition, puts out a report demonstrating how unaffordable rents have become throughout the United States.

Their report for 2015 has just been released, and it highlights some disturbing statistics: the federal minimum wage is $7.25, adding up to an annual income of $15,080. The 2015 Fair Market Rent is $806, meaning it would take 86 hours of work at minimum wage to afford rent.

Government benefits are calculated as if renters spend 30% of their income on housing, but 10.3 million households have incomes at, or below, 30% of the Area Median Income.

In other words, 1 out of every 4 renters can't afford their existing rent.

You can read the report here.