A recent study says that if you live in the Greeley area, you should be making more than $28 an hour to reasonable afford a median-priced rental. Do you agree with this?

The Greeley Tribune reported that the online rental and home ownership company Zillow, took a look at rental rates in 15,099 cities and towns across the country. Their calculation was based on annual housing costs not exceeding 30 percent of one’s income, a rule of thumb often used by apartment hunters.

The study showed a single person in Greeley would have to make $28.28 to afford rent in Greeley without spending more than 30 percent of their annual income.

Interesting considering that Colorado’s minimum wage will increase to $8.23 an hour starting Jan. 1.

It also showed that in the Fort Collins/Loveland area, a single renter would need to make $31.12 to afford a rental by the 30 percent rule. Someone with a spouse or roommate would only need to make $15.56.

In Denver the single renter would need to make $35.44, or dual renters need to make $17.72 an hour.

So time to sound off, do you agree with this or is this way off?

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