But even with recent wage growth for the lowest-paid workers, there is still nowhere in the country where someone working a full-time minimum-wage job could afford to rent a modest two-bedroom apartment, according to an annual report released Wednesday by the National Low Income Housing Coalition. That's over $10 more than the federal minimum wage of $7.25.
Today the National Low Income Housing Coalition released Out of Reach 2018, its latest annual report on housing costs, and well they're bad.
"The same worker needs to work 99 hours per week for all 52 weeks of the year, or approximately two and a half full-time jobs, to afford a one-bedroom home at the national average fair market rent". The report goes in depth, looking at how much a minimum wage worker must work to afford housing in each state. This is due in part to the fact that these states have higher minimum wages than the federal minimum. In the Burlington-South Burlington area, the housing wage is $27.73, but that wage drops to $15.21 in Orleans County.
In Marin, San Francisco, and San Mateo Counties, you'll need to make at least $60 an hour - as much as $90 in some zip codes. "Rather than threatening the housing stability of families struggling to keep roofs over their heads, Congress must invest in expanding housing solutions that provide stable homes for the lowest income people in our country", she said.
"The housing crisis is growing, especially for the lowest-income workers", Diane Yentel, president of the National Low Income Housing Coalition, told The Washington Post.
The day after the Seattle City Council repealed a tax that would have funded low-income housing, a new report highlights the ongoing lack of affordable housing for the nation's lowest income renters. Fair Market Rent is Housing and Urban Development's best estimate of what a household seeking a modest rental home in a short amount of time can expect to pay for rent and utilities, according to the report. The city is one of many now buckling under rising housing costs, Seattle's having been propelled in part by the same corporations that fought against the tax.
On average, workers still need to earn $17.90 an hour to afford a modest one-bedroom apartment. And downsizing to a one-bedroom pad barely helps.
According to the Joint Center for Housing Studies, the number of homes renting for $2,000 or more per month increased by 97 percent from 2005 to 2015. Bernie Sanders wrote in the report's preface.
"Rather than address the affordable housing crisis, the (Trump) administration's proposed spending cuts for FY 2019 would, if enacted, lead to the largest reduction in affordable housing and community development in decades", said the report.