Clark County residents must make over $33 per hour or work two minimum-wage jobs to afford a two-bedroom apartment.
That is according to a 2022 report, Out of Reach, by Washington’s Low Income Housing Coalition. The annual data collection captures and compares median salaries to rental prices in Washington counties.
In 2022, the data pool underscored the increasing disparity between affordable housing and income for Washington residents.
Grouped in with the Portland-Vancouver-Hillsboro area, Vancouver ranks the third-most-expensive area in the state behind Seattle and Bremerton-Silverdale.
What the numbers say
The report uses what’s known as a fair market rent value to determine prices. In Washington, a two-bedroom apartment averages $1,629, according to data. But in Clark County, the median rental rate for a two-bedroom unit outpaces the state average at $1,735.
According to the report, renters should spend about 30 percent of their gross annual income on rent to balance all cost-of-living necessities.
The gap between wage and rent isn’t just with two bedrooms. According to the data, a renter needs to earn an annual salary of $56,640 to afford a studio apartment. Residents seeking a one-bedroom would need to make $60,480 for affordability or work an 80-hour week at a minimum-wage job.
The report also highlights the disparities for marginalized communities. For a recipient of Supplemental Security Income, offered to seniors or people with disabilities, the rent they could afford at 30 percent of income would be $264.
