Housing costs in Texas increased by 30%

Housing costs in Texas increased by 30%

It’s only natural for the cost of living to rise year after year. As the cost of goods and everything else rises, things like rent also rise. In Texas, they’ve been rising steadily for some time, but the latest numbers are simply staggering.

Over the last year, we have seen a significant increase in the cost of living, particularly housing, in the state. It’s really getting to the point where it’s almost unaffordable, especially if you’re not making enough money at your job.

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COSTS FOR A ONE-ROOM APARTMENT

I saw a statistic that is absolutely shocking. The cost of a one-bedroom apartment in Texas has gone up 30% in the last year. Think about that: 30%. An apartment that you paid $800 a month for a year ago will now cost you about $1,040 a month.

That’s an insane increase, and it’s not always easy to come up with an extra $240 a month. It can force you to move to a cheaper apartment if you can find one, or take on a second job just to make ends meet.

CURRENT MINIMUM WAGE IN TEXAS

Okay, let’s say you’re making minimum wage at your job. That’s not ideal for life in general, but maybe it’s all you can find right now. That means you’re making $7.25 an hour at your job. That’s barely enough to afford an apartment that costs over $1,000 a month.

Most employers want you to hit a 3:1 ratio, so if you make $3,000 a month at your job, for example, you should spend no more than $1,000 a month on rent. Most employers won’t even rent you anything if you don’t meet this requirement.

Minimum wage vs. what you should earn

If you make minimum wage, to afford a one bedroom apartment in Texas you would have to work 104 hours PER WEEK just to meet the required 3:1 ratio. That’s obviously not feasible for anyone. There are only 168 hours in a week. If you break that down, you would literally work, take an hour to eat dinner, and then sleep for eight hours. That’s no way to live.

To comfortably afford a studio apartment in Texas and still maintain a 40-hour work week, you’ll need to make at least $18.79 per hour, or $39,000 per year if you’re on a salary. These jobs aren’t easy to find, but they do exist.

The bottom line is that the economy is making it very difficult to live at all. If you can’t afford a basic one-bedroom apartment on less than $18 an hour, things need to change across the country.

The good news is that Buc-ee’s hires people and will pay you the amount you need to cover housing costs, so if you’re having trouble, you should definitely stop by their place.

Some of the best snacks at Buc-ee’s

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