Enter the monthly minimum wage full-time ($) and the average monthly rent ($) into the Calculator. The calculator will evaluate the Minimum Wage To Rent Ratio. 

Minimum Wage To Rent Ratio Formula

MWR = MW / R * 100

Variables:

  • MWR is the Minimum Wage To Rent Ratio (%)
  • MW is the monthly minimum wage full-time ($)
  • R is the average monthly rent ($)

To calculate Minimum Wage To Rent Ratio, divide the minimum monthly wage by the average monthly rent, then multiply by 100.

How to Calculate Minimum Wage To Rent Ratio?

The following steps outline how to calculate the Minimum Wage To Rent Ratio.

  1. First, determine the monthly minimum wage full-time ($). 
  2. Next, determine the average monthly rent ($). 
  3. Next, gather the formula from above = MWR = MW / R * 100.
  4. Finally, calculate the Minimum Wage To Rent Ratio.
  5. After inserting the variables and calculating the result, check your answer with the calculator above.

Example Problem : 

Use the following variables as an example problem to test your knowledge.

monthly minimum wage full time ($) = 2000

monthly average rent ($) = 1000