No one earning minimum wage can afford a modest apartment says report

No one earning minimum wage can afford a modest apartment says report

Minimum-wage workers in Hawaii would need to work 109 hours a week to afford a one-bedroom apartment and 143 hours per week to afford a two-bedroom rental, the report found.

The report estimates that renters nationally make an average of $16.88 an hour.

The only places with a higher housing wage than MA are Maryland, New York, California, Washington D.C. and Hawaii.

Affordability is based on the federal standard that no more than 30 percent of a household's gross income should be spent on rent and utilities.

Housing has gotten so expensive across the country, it's completely priced out the lowest earners.

The report found that in order to afford a modest two-bedroom rental home, renters need to earn a wage of $22.10 per hour. The minimum wage in Arkansas is $8.50 an hour.

Hawaii's minimum wage is $10.10 per hour. That will increase to $13.50 by 2020. Luckily, the average wage of a renter in Cuyahoga County is $15.38, further promoting Cleveland as " a very affordable, decent place to live". The same worker would still need to work 99 hours a week every week of the year to afford a one-bedroom.

But opting for a one-bedroom apartment may not help.

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MA is the sixth-most expensive state for renters, according to the study. Still, the results are bleak.

Of the 10 most expensive metropolitan counties, eight are in California, one is in NY and one is in Hawaii.

If you want to rent a two-bedroom apartment in the South Bay, you'd better make close to $50 an hour - or roughly $100,000 a year - according to a startling new report that pegs all three of the nation's most expensive regions for renters squarely within the Bay Area.

"It's a national problem", said Andrew Aurand, vice president of research for the National Low Income Housing Coalition. As Cleveland continues to dig out of the housing crisis, it's important not just to look at the numbers from reports like the one from The National Low Income Housing Coalition, but also analyze and challenge the reasons why the numbers are what they are. "That leaves precious little for other essentials". Check out the full report from NLICH here.

The San Jose market had the second highest housing wage in the USA, where a renter would need $48.50 an hour for a two-bedroom apartment going for $2,522 a month.

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. During the same time, the number of homes renting for less than $800 declined by 2%. Cleveland is now undergoing a wave of new housing opportunities, many of which are geared as luxury living.

This is the case even in states with low rental prices. Out of Reach 2018 includes data on housing costs and incomes in all 5 counties in the state. Landlords in weak housing markets often find the cost of upkeep is higher than the rent they are able to collect, and they therefore decide to abandon maintenance on the housing or repurpose the property.

"The affordable housing crisis demands that we think big and act boldly", writes Sen.

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