The ‘housing wage’ needed to afford housing in most communities is well above minimum wage.
“Nearly half of all workers in the U.S. are not making enough to comfortably afford a one-bedroom apartment, according to a new report.” Writing in Route Fifty, Molly Bolan outlines the report’s findings, which indicate that housing affordability is an urgent problem in almost every U.S. community.
On average, a person working full time needs to make $23.67 an hour to afford a one-bedroom apartment or $28.58 an hour for a two-bedroom apartment, according to the National Low Income Housing Coalition’s annual Out of Reach report.
A full-time minimum wage worker can only afford a market-rate one-bedroom apartment in seven U.S. counties—all located in states with higher-than-federal minimum wage. Bolan adds that “The gap between income and housing costs is especially large for renters of color. The study found that nationally the median wage for a full-time white worker is enough to cover the costs of a one-bedroom apartment, but the same can’t be said for Black and Latino workers.”
Bolan notes that the report comes on the heels of a congressional budget deal that is widely expected to lead to reductions in funding for housing programs.
FULL STORY: Housing Still Isn't Affordable for Minimum-Wage Workers, Report Says
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