Minimum Wage Worker Needs 2.5 Full-Time Jobs to Afford 1-Bedroom Apartment

By Jackie Cohen, June 18th, 2018 | No Comments

The average minimum wage worker needs two-and-a-half full-time jobs in order to afford a one-bedroom apartment in most parts of the country.

That comes from the National Low Income Housing Coalition’s annual report, which states that the minimum hourly wage needed to be able to afford a modest one-bedroom apartment is $17.90 which is two-and-a-half times the federal minimum wage of $7.25.

And that also assumes the person is working 40 hours a week and 52 weeks a year — so to squeeze in any time off, you’d have to make more per hour.

Rents Outpace Wages

Meanwhile, rents have been going up more than three times as fast as wages.

Across the country, rents have risen 7 percent on average over the past year; over the same time period, wages have barely grown more than 2 percent over the same time period.

There hasn’t been any increase in the federal minimum wage over this time period either.

Windows of Affordability

Note, however, that about 22 different counties in the U.S. have higher minimum wages that in some locations make one-bedroom apartments affordable.

The 22 counties fall within five states — Arizona, California, Colorado, Oregon, and Washington.

While all five have higher minimum wages than the federal average, rents are also above average in the more urban parts of these states.

Readers, how do these findings compare to rents and wages where you live?

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