Report: Nashville renters have to work 64.2 hours to keep the roof over their head


    Cropped Photo: Payton Chung / CC BY-SA 2.0

    NASHVILLE, Tenn.--Financial technology company SmartAsset ranks Nashville 11th for the amount of time needed to work to pay rent.

    The company examined median after-tax earnings, average yearly hours worked, and median monthly rents for America's 25 largest cities. They then compared the wages to the median monthly rent in each city to see how long renters would have to work to pay the rent.

    According to the data, the estimated hourly wage in Nashville is $16.81. With a median monthly gross rent of $1,079, Nashville renters earning $16.81 would have to work 64.2 hours to pay for the roof over their heads.

    Memphis ranked 23rd on the list with a median rent of $863 and an estimated hourly wage of $14.74. Renters there would have to work 58.5 hours based on SmartAsset's calculations.

    San Jose, Los Angeles, San Diego, New York City, Boston, San Francisco, Denver, Dallas, Jacksonville, and Austin rounded out the top ten.

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