Report lists Evansville as the 5th best metro area when weighing average salaries and housing costs

Local News

Courtesy: Business.org

EVANSVILLE, Ind. (WEHT) – A Business.org report lists Evansville as one of the best metro areas for how many hours the average person needs to work to afford housing.

The report showed that Evansville was the 5th best metro area out of over 200 metro areas included in the study.

Evansville has an annual median wage of $34,710 with a low median 1-bedroom apartment rent at $495, according to the report. The total hours of work to afford housing comes out to 29.7.

The report also focused on states, listing Indiana as the state with the 12th best annual median wage when compared to monthly rent costs.

The report found an annual median wage of $35,730 in Indiana, with a median monthly rent of $760 – meaning it takes 44.2 hours of work to afford housing.

The report lists Kentucky as having the 19th best average salary in 2019.

Kentucky’s average salary of $34,650 per year means it would take 48 hours to afford rent for a 1-bedroom apartment.

Illinois was ranked as the 9th worst state, with an average salary of $39,950 but a higher monthly rent. The report said it would take 75.8 hours of work to afford an apartment in Illinois.

Click here to read the full list of states and metro areas.

Click here for the Business.org report.

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(This story was originally published on October 8, 2019)

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