A single wage earner would have to make more than $22 an hour to afford rent on a modest two-bedroom home. (Source: National Low Income Housing Coalition)
(RNN) – Minimum wage doesn’t cover the cost of rent anywhere in the United States – not Hawaii, not Arkansas, not anywhere.
The stark findings appear in an annual report released this week by the National Low Income Housing Coalition.
“A full-time worker earning the federal minimum wage of $7.25 needs to work approximately 122 hours per week for all 52 weeks of the year, or approximately three full-time jobs, to afford a two-bedroom rental home at the national average fair market rent,” the report said.
“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, “Out of Reach,” said the 2018 national housing wage is $22.10 ($45,986 annually) for a modest two-bedroom rental home and $17.90 ($37,232 annually) for a modest one-bedroom rental home.