The city’s minimum wage increases will be tied to the Consumer Price Index and local market housing costs.
The Santa Fe City Council voted to start calculating minimum wage increases based on the Consumer Price Index and, for the first time for a U.S. city, housing costs, reports John Miller in Albuquerque Journal. The city will raise its minimum wage to $17.50 per hour in 2027 and begin using the new calculation for future wage increases.
Since 2003, the city has had an annual minimum wage increase tied to the CPI, which amounted to a small change each year that Cathy Garcia, a local organizer, called “wildly insufficient.” Santa Fe’s housing market is one of the country’s more expensive, with a median home price of $600,000 and double-digit rent increases since the pandemic.
FULL STORY: With new ordinance, Santa Fe becomes first city to tie minimum wage to rental costs
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