RI Monthly: How Much Does It Cost to Rent an Apartment in RI?

Rhode Islanders must earn two-and-a-half times the minimum wage to afford the average cost of rent.

The 2018 RI Kids Count Factbook, released on Monday, is fascinating. It provides a window into the lives of Rhode Island's children, and it also offers some peripheral data that contextualizes how the state's youngest residents are raised.

A portion of the Factbook involves housing security and the economic well-being of the family unit. According to the Factbook, in 2017, the average rent for a two-bedroom apartment in Rhode Island was $1,385 — a $100 increase over the previous year. In order to live without a cost burden — when more than 30 percent of a family's income is spent on housing — a worker must earn $26.63 an hour, at forty hours a week, to be able to afford that monthly rent. Last year's minimum wage in Rhode Island was $9.60.

To view the complete report, visit Rhode Island Monthly

Courtesy of Rhode Island Monthly

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