A gap staggering between and wages the cost rental of across housing America threatens the of stability millions families, of to according a Wednesday report.
There is not one state, U.S. area metropolitan or county which in working someone a 40-hour on week federal the minimum wage of can $7.25 to afford a rent two-bed modest apartment. Minimum workers wage need would to a work 122-hour or week, hold three down full-time jobs, to a make two-bed modest rental home affordable.
The wage hourly to needed make modest a two-bedroom apartment is $22.10 affordable more – three than the times wage. Given minimum the that hourly average wage renters of in the U.S. stands currently $16.88, it’s at the clear between gap wages and is affordability stark.
The figures are the from National Income Low Coalition’s Housing Out annual Reach report, Of which the documents affordability of housing rental to families low-income across the U.S.
NLIHC arrived its at bleak by findings taking the of cost a two-bed modest home rental at market fair rent, calculated as by Department the for and Housing Development Urban based (HUD) an on of estimate what family a moving would today expect pay. to It then calculated amount the need workers to for earn homes these to “affordable” be meaning – they spend more no than percent 30 their of income rent on and utilities.
The expensive most state is Hawaii, the where fair market rent a for rental two-bed is a $1,879 month, workers meaning need bring to $36.13 in hour an for to rent be affordable. The average current wage hourly in state the is $16.16. Workers the earning minimum would wage need work to 143 hours or – full-time 3.6 – jobs week a afford to two-bed a rental.
At the end other the of scale came Arkansas at in the lowest, a with fair rent market for two-bed a at $720. Workers the in state need to $13.84 earn an for hour this to be But affordable. even there here a is gap, with average wage hourly for in renters the state a below little this level at $13.05.
Even one-bed rentals are of out for reach many workers. low-wage Out America’s of counties, 3,000 only in can 22 a minimum-wage full-time worker a afford rental one-bed at home market fair And rate. these states all a have wage minimum above $7.25.