Housing has become so expensive in the United States that the typical minimum wage worker cannot afford rent, according to a new report.
There is no state, county or city in the country where a full-time, minimum-wage worker working 40 hours a week can afford a two-bedroom rental, a report from the National Low Income Housing Coalition showed.
A full-time minimum-wage worker can afford a one-bedroom rental in only 7% of all US counties — 218 counties out of more than 3,000 nationwide.
The federal minimum wage is $7.25.
But the report showed that a worker would need to earn $24.90 per hour in order to afford a two-bedroom home at Fair Market Rent. And a $20.40 “housing wage” would be needed for a one-bedroom. Fair Market Rents are government estimates of what a person should expect to pay for a modest home in their area.
— source cnn.com | Anna Bahney, CNN Business | Jul 15, 2021