The 2024 “housing wage” for North Carolina is $25.21 per hour, which is an increase of $3.61 an hour when compared to the $21.54 per hour wage a worker needed in 2023 to pay for a modest apartment.
The “housing wage” is an annual estimate of what a full-time worker would have to earn per hour to afford a modest apartment at Fair Market Rent without spending more than 30% of their income on housing.
Here are the five areas in North Carolina with the highest required housing wages:
- Asheville — $32.31.
- Raleigh — $31.65.
- Durham-Chapel Hill — $31.37
- Charlotte-Concord-Gastonia — $29.88
- Wilmington — $29.13
Source: NC Newsline
Multifamily Market News 