No one earning minimum wage can afford a modest apartment says report

No one earning minimum wage can afford a modest apartment says report

No one earning minimum wage can afford a modest apartment says report

The report goes in depth, looking at how much a minimum wage worker must work to afford housing in each state.

Using the federal minimum wage of $7.25 an hour and national and statewide data on rental prices, researchers found that the average worker would have to put in 122 hours per week to afford a two-bedroom apartment at the national fair market rent, an estimate the government updates every year, usually based on the 40th percentile of the gross rent of a given area.

New Orleans residents need on average to earn at least $19.15 per hour to rent a two-bedroom apartment in the city and live comfortably, a report out Wednesday shows - about 61 cents more than they needed a year ago.

The report found that in order to afford a modest two-bedroom rental home, renters need to earn a wage of $22.10 per hour. Though the state recently raised its minimum wage to $10.10, households still need to earn $36.13 per hour to afford that 2-bedroom home.

Perhaps not surprising to prospective Bay Area renters, the San Francisco market (San Francisco and San Mateo counties) had the highest "housing wage" in the country.

Lastly, Hawaii, the state with the most expensive housing: The minimum wage there is $10.10, and the housing wage for a one-bedroom apartment is $27.44.

In Arkansas, where the housing is cheapest in the continental United States, it takes $13.84 an hour for a similar home.

Of the 10 most expensive metropolitan counties, eight are in California, one is in NY and one is in Hawaii.

In 22 out of 3,000 counties nationwide could workers earning minimum wage afford to rent a one-bedroom, the NLIHC says.

You can afford a typical 2-bedroom apartment if you make just under $33 an hour. Maui County's housing wage was calculated to be $31.13.

The number of renters has increased by almost 10 million since 2005, but most new rental construction over the past ten years has been geared toward the high end of the rental market.

Nationally, as the demand for rental housing has increased in the past decade, most rental housing being built is "geared largely toward the high end of the market, due to increasingly high development costs", according to the report. Bernie Sanders in the report's preface. "In America today, almost 11 million families pay more than half of their limited incomes toward rent and utilities". As it stands, only 1 in 4 households eligible for federal rent assistance gets any help, the report said. Ben Carson, secretary of Housing and Urban Development, has proposed raising rent for those getting housing subsidies. It's hard to praise Cleveland for its affordability when there are an average of 12 evictions every single day and an enormous waiting list for housing vouchers through CMHA.

Noticias relacionadas

[an error occurred while processing the directive]