Back when we charted out what you could rent with a minimum wage salary in Seattle the first time, we were using the $9.19/hour figure. With the news that the minimum wage will be rising (eventually) to $15/hour, we thought we might try to update our findings.
We took $15/hour, multiplied by 40 hours/week, sorted out taxes, and ended up with a monthly salary of $1,978. The generally-accepted rule is that you should try to spend no more than 30% of your salary on rent, which comes out to $593/month. That seems...daunting. So let's bump it up to 40%, which gets us to $791/month. That's a little better.
First up, we head to The Juno Studios in University District. They've got a 150 sq. ft. (Yes, 150 sq. ft.) studio available for $775/month. Units include frost-free refrigerators, microwaves, built-in desks, twin long-size bed frames and private or shared bathrooms. Pets aren't allowed but, we mean, that's probably a good thing. It's one hundred and fifth square feet!
Next we go to Yesler Terrace where a 400 sq. ft. studio at Abbotsford Apartments is available for $775/month. The $40 application fee and $200 admin fee don't exactly speak to the target audience's financial situation, but, it's nothing new.
We find our first 1-BR up in Lake City with this 1-BR/1-bath unit at Gladstone Apartments for $775/month. The remodeled unit features granite counter tops in the kitchen and bathroom, new flooring in the kitchen and entry way, and brand new carpet throughout. Basic, but at 715 sq. ft., it's reasonable.
EcoFlats-College Park just outside of Greenwood offers a 370 sq. ft. studio unit for $790/month. The unit features a sleeping alcove, hardwood floors, tiled counters in the kitchen, full sized appliances, dishwasher and washer/dryer. If you want a newer living space, you'd be hard-pressed to find many better in the price range than this 4-Star Built Green building.
· What Minimum Wage In Seattle Can Rent You [Curbed Seattle]
· All Curbed Comparisons coverage [Curbed Seattle]