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Here's how much income you need to afford a nice apartment in Austin

Here's how much income you need to afford a nice apartment in Austin

Amli downtown Austin apartment
Zillow reveals how much you must earn to afford an apartment in Austin. Photo courtesy of Amli

Just how much money do you need to make to rent a nice place in Austin? According to a Zillow analysis released in June, quite a bit. The analysis shows that it's almost impossible to rent a median-priced apartment in most of the 35 largest U.S. metro areas on an income of $15 an hour.

 The annual household income required to afford Austin's median rent is $67,440.  

Zillow uses $15 as the "minimum wage," inspired by Seattle's decision, but that's not an accurate number in most cities. The minimum wage is only $7.25 in Texas. 

In Austin, the median-priced apartment costs a whopping $1,686 per month. In a dual-earner household, two people need to make at least $16.86 an hour to afford it. For a single-earner, the required hourly wage skyrockets to $33.72. The annual household income required to afford Austin's median rent — without exceeding a 30 percent threshold — is $67,440. 

The picture isn't as grim in other Texas cities. It costs $15.13 an hour for two to afford rent in Houston, but only $14.65 an hour for two in Dallas.
 
The cheapest places to rent, based on dual-earner households, are Detroit ($11.21), Pittsburgh ($11.24), St. Louis ($11.37), Cleveland ($11.61) and Indianapolis ($11.99). You'll spend the most in San Jose, where two people must each earn $32.87 an hour to afford the median rent of $3,287 a month.