Rents pricing out minimum-wage workers across the USA, report says
Rents pricing out minimum-wage workers across the USA, report says
Honolulu residents need to earn at least $39.06 per hour to afford a two-bedroom apartment a study
14 June, 2018, 17:27
The report reveals that 41 percent of Cuyahoga County residents are renters, and the housing wage needed is less than the state's average at $15.10. In 2016, 48 percent of Cleveland renters were cost burdened.
Hawaii's minimum wage is $10.10 per hour.
According to the report, a full-time worker earning $7.25, the national minimum wage, needs to work 122 hours a week every single week of the year to be able to afford your average, no-frills, two-bedroom rental in the United States. To rent a one-bedroom at minimum wage, you'd need to work 67 hours a week. The eight failing common means of employment like food preparation ($9.40), retail salesperson ($10.41), cashiers ($9.33), laborers and freight movers ($12.66), waiters ($9.45), office clerks ($14.42), janitors ($11.59) and stock clerks ($11.65) fall below what is necessary for someone to afford a modest two bedroom apartment. "Building that political will take a combination of increased civic engagement-to ensure that low-income renters vote at similar rates as higher income homeowners - and expanded coalitions that include the health, education, civil rights and faith-based communities, all of which have a stake in ensuring more people are affordably housed". "The rents are far out of reach from what the average renter is earning".
But that's still nearly double the Arkansas minimum wage of $8.50. Nationally, someone would need to make $17.90 an hour to rent a modest one-bedroom or $22.10 an hour to cover a two-bedroom place.
The most expensive county in the state is Honolulu, where the "housing wage" is $39.06 per hour. In Seattle, the minimum wage now ranges from $11.50 to $15 an hour depending on the size of the employer and benefits offered. In the Seattle-Bellevue metro area and King County, the numbers are higher: $26 an hour for a studio, $29 for a one-bedroom, $36 for a two-bedroom, and $52 for a three-bedroom. San Francisco, Marin and San Mateo counties top the list of most expensive jurisdictions, where one would need to make $60.02 an hour to afford a modest two-bedroom apartment.
The cost of housing has steadily risen along with increased demand for rentals, yet new construction has trended toward the high-end market due to lofty development expenses, the findings said.
In a preface to the report, Senator Bernie Sanders writes that "wages have been stagnant for decades, while the cost of housing keeps going up". Almost 11 million extremely low-income families pay more than half their incomes on rent.
Meanwhile, the Trump administration has tried cutting federal housing subsidies for the lowest-income Americans.
City officials have been considering the so-called Smart Housing Mix - a policy that would require developers to reserve some apartments in large complexes for low-income residents - for almost two years but have not finalized those plans.
Affordable housing is a big challenge. That's considered the "housing wage", at which renters can afford to live somewhat comfortably.
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