#4
New York
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State Facts
Minimum Wage
$10.40
Average Renter Wage
$24.23
2-Bedroom Housing Wage
$30.03
Number of Renter Households
3,371,574
Percent Renters
46%
Affordable Rent for Low Income Households
Fair Market Rent
Working at
minimum wage
$10.40/hr
Each week you
have to work
99HOURS!
To afford a modest
1 bedroom
rental home at
Fair Market Rent
Compare Jurisdictions
| Number of Households | New York | Albany County |
|---|---|---|
| Total | 7,266,187 | 124,108 |
| Renter | 3,371,574 | 52,829 |
| Percent Renters | 46% | 43% |
| Housing Wage | New York | Albany County |
|---|---|---|
| Zero-Bedroom | $24.23 | $13.46 |
| One-Bedroom | $25.66 | $16.10 |
| Two-Bedroom | $30.03 | $19.85 |
| Three-Bedroom | $38.30 | $24.88 |
| Four-Bedroom | $41.51 | $27.04 |
| Fair Market Rent | New York | Albany County |
|---|---|---|
| Zero-Bedroom | $1,260 | $700 |
| One-Bedroom | $1,334 | $837 |
| Two-Bedroom | $1,561 | $1,032 |
| Three-Bedroom | $1,992 | $1,294 |
| Four-Bedroom | $2,159 | $1,406 |
| Annual Income Needed to Afford | New York | Albany County |
|---|---|---|
| Zero-Bedroom | $50,390 | $28,000 |
| One-Bedroom | $53,377 | $33,480 |
| Two-Bedroom | $62,454 | $41,280 |
| Three-Bedroom | $79,667 | $51,760 |
| Four-Bedroom | $86,344 | $56,240 |
| Minimum Wage | New York | Albany County |
|---|---|---|
| Minimum Wage | $10.40 | $10.40 |
| Rent Affordable at Minimum Wage | $541 | $541 |
| Work Hours/Week at Minimum Wage | New York | Albany County |
|---|---|---|
| Zero-Bedroom | 93 | 52 |
| One-Bedroom | 99 | 62 |
| Two-Bedroom | 115 | 76 |
| Three-Bedroom | 147 | 96 |
| Four-Bedroom | 160 | 104 |
| Renter Wage | New York | Albany County |
|---|---|---|
| Estimated Mean Renter Wage | $24.23 | $15.72 |
| Rent Affordable at Mean Renter Wage | $1,260 | $817 |
| Work Hours/Week at Mean Renter Wage | New York | Albany County |
|---|---|---|
| Zero-Bedroom | 40 | 34 |
| One-Bedroom | 42 | 41 |
| Two-Bedroom | 50 | 51 |
| Three-Bedroom | 63 | 63 |
| Four-Bedroom | 69 | 69 |
| Supplemental Security Income (SSI) Payment | New York | Albany County |
|---|---|---|
| SSI Monthly Payment | $837 | $837 |
| Rent Affordable to SSI Recipient | $251 | $251 |
| Income Levels | New York | Albany County |
|---|---|---|
| 30% of Area Median Income (AMI) | $24,179 | $25,920 |
| Estimated Renter Median Household Income | $43,248 | $37,796 |
| Rent Affordable at Different Income Levels | New York | Albany County |
|---|---|---|
| 30% of Area Median Income (AMI) | $604 | $648 |
| Estimated Renter Median Household Income | $1,081 | $945 |
*50th percentile FMR area (See Appendix B of full book for more information).
†Renter wage data not available.
Interested in learning more about how these numbers are calculated? Download a guide on how to use the numbers and where the numbers come from. Or Contact Us for more information.
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