SALINAS, California (KSBW) — Santa Cruz County is now the most expensive place to rent in the country, with Monterey County sitting not far behind, according to a new report by the National Low Income Housing Coalition (NLIHC).
To afford the average two-bedroom apartment in Santa Cruz County, a person would have to make $63.33 an hour. Last year that number was $60.35 when Santa Cruz County ranked as the second most expensive place to live.
NLIHC bases the number on the federal standard that no more than 30% of a household's gross income should be spent on rent and utilities.
"Households paying over 30% of their income are considered housing cost-burdened," read the report.
Ranking behind Santa Cruz County was San Francisco at $61.31 an hour needed, Santa Clara County at $56.56 and Monterey County at $51.44 an hour.
Monterey County now ranked fourth most expensive place to live, didn't make the top five list in last year's report. In 2022 a renter needed to make $37.87 an hour to pay for the average two-bedroom apartment. The 2023 number shows a $13.57 increase in just one year.
In San Benito County, a person would need to make $41.44 per hour to afford a two-bedroom apartment according to the latest NLIHC report. Last year that number was $31.71. A 30% increase.
