|Source: NLIHC's "Out of Reach 2012"|
16 March 2012
Make Minimum Wage? No Housing for You!
People making minimum wage cannot afford to rent a place to live. This conclusion, made in an annual report released by the The National Low Income Housing Coalition (NLIHC), explains that on average, the earned income falls about $4/hour short of 'housing income,' or the income required to maintain a household.
So, just how many hours earning minimum wage does it take to afford a home of one's own? It depends on the state: West Virginia and Arkansas come in as the most affordable, with a worker earning minimum wage only needing to work 63/hours a week to make ends meet. An employee earning minimum wage in California, however, would need to work 130 hours/week to make ends meet. That works out to be about 18 hours per day just to pay the rent.