Minimum wage needed to rent in Portland: $31 an hour

PORTLAND, Ore. – If you want to pay rent and live comfortably in Portland, you'll need to make $31 an hour, according to a recent survey.

The real estate site Zillow said a single person living alone would need to make $61,680 a year to spend 30 percent of that salary on Portland's median rent, which is $1,542.

That shakes out to $31 an hour for a job with a 40-hour workweek. In Oregon, the minimum wage is $9.10 an hour although that rises to $9.25 on January 1, 2015.

Couples get a bit of a break on the salary requirements. For a two-income household, each person needs to make $15 an hour, or $31,200 a year.

Think moving to the suburbs would save you from rising rents? In the Portland metro area, that's not exactly the case. Beaverton, Hillsboro, Gladstone and Milwaukie all have average rents of around $1,500 a month.

You'd have to shell out even more to afford a home in the tony areas of West Linn and Lake Oswego. The average rents there are $2,146 and $2,316, respectively.

Looking for a deal? Your best bet is to pack up and move to Sheridan or Willamina. It's about an hour and a half commute into the city, but the minimum wage needed to afford a home there is around $42,000 a year.

Since Portland's average salary is around $47,000 a year, that will give you enough cash for rent and extra gas money.


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