NewsStudy Reveals The Most Affordable Cities With Affordable Rent

Study Reveals The Most Affordable Cities With Affordable Rent

These cities minimum wage is higher than average and still barely affordable.

Oct. 21, Clever, a real estate company, published a study on the most affordable cities to live in for minimum wage workers. The federal minimum wage is set at $7.25 but varies depending on the state. The study considers state minimum wage and basic rental costs when determining which cities are the best. 

According to the study, residents of Buffalo still struggle to afford their dwelling according to statistical data.. 

The reality of today is that the housing and rental market is volatile. Many people are struggling under the weight of low pay, rising rent, hidden fees, and rising inflation. Moving to a city with a better wage-to-rent ratio may work to relieve financial stress on individuals and families. With the spirit of optimism in mind, BLACK ENTERPRISE is going to run down a few of the most affordable places to live. 

Buffalo, NY

Snuggled in the northeast corner of the U.S., Buffalo is a hop, skip, and jump away from Canada. The $15 minimum wage is double the federal wage. Residents can be sure to experience beautiful winters. The city is only 6 hours away from New York City.

St. Louis, Missouri 

https://twitter.com/chickenjoestl/status/1854320162369110258?s=46

Cincinnati, Ohio

Ohio is home to one of the greatest basketball players alive, LeBron James. Cincinnati cannot claim the honor of being the legend’s hometown. But the city tied with Cleveland and Kansas City, placing 6th on the affordable cities list.

Denver, Colorado 

Living near the mountains is not for everyone. Those with an affinity for extreme climates would fare well in a city that fluctuates from hot and dry summers to cold and snowy winters. With the highest minimum wage at $18.29, the mountains just might be bearable. 

With its unique blend of city life and outdoor activities, diverse culture, and friendly atmosphere, Denver is a fantastic destination for travelers of all interests. Don’t miss the chance to explore one of Colorado’s most dynamic city! pic.twitter.com/UgYhOJoxHS— Governor Jared Polis (@GovofCO) November 12, 2024

Detroit, Michigan 

Will just add before we leave incredible & unpretentious Detroit –Michigan is a workers state. People from all over the world came here to work & work hard. The future is uncertain – the state was very split. Everyone now dusting off and gearing up for the next four years. pic.twitter.com/EEzrT7AJjs— Yousra Elbagir (@YousraElbagir) November 7, 2024

RELATED CONTENT: ‘Build-To-Rent’ Homes For Single Families Booming In Metro Atlanta


Source: Black Enterprise

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