• Study: Charlotte renters need to make double minimum wage to afford apartments

    Updated:

    CHARLOTTE, N.C. - A new study suggests Charlotteans need to make more than double the minimum wage in order to afford a one-bedroom apartment in the Queen City.

    A new report from the National Low Income Housing Coalition shows the fair market rent for a one-bedroom apartment in Mecklenburg County is $784.

    Renters would need to make at least $15 an hour, which would equal a $31,000 salary, to afford that without spending more than 30 percent of their income on housing.

    The report found that 43 percent of households in Mecklenburg County rent, and that they make an average of $42,000.

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    Channel 9 has reported that developers are building more apartments throughout Charlotte. There are more than 3,400 new units under construction in uptown alone.

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