• New data shows just how unaffordable rent is in every U.S. state


    It appears that the days of $700 a month apartments are over. 

    If you're fresh out of college and looking for an apartment, good luck trying to find anything under $1,000 a month, especially in Florida. 

    New data from the National Low Income Housing Coalition has revealed that, not only is housing in cities across the country becoming more expensive but it is even harder for those living on minimum wage.

    The staggering gap between wages and the cost of housing nationwide has created a significant problem for most American families. 

    Florida is known for its lack of state income tax, but the savings from your paycheck will likely be swallowed up by housing costs. 

    On the map released by the NLHC, Florida is shown as a blue state, which ranks its among the highest in the country. 

    The report ranks Florida as the state with the 16th highest housing wage. 

    The report, released on Wednesday, details how it is virtually impossible for someone working a 40-hour week and earning the federal minimum wage of $7.25 to afford renting a modest 2-bedroom apartment anywhere in the country.

    The report lists Hawaii as the most expensive state with $36.13/hour required to afford a 2-bedroom and Arkansas as the least expensive with $13.84/hour need for a 2-bedroom. 

    Next Up: