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Housing costs outpace minimum wage nationwide
The National Low Income Housing Coalition reports a one bedroom rent requires $11.28 an hour on average, two bedrooms $13.87, far above federal minimum wage of $5.15 though higher in 10 states. In Arkansas a worker would need $6.99 per hour, highlighting a widening gap between wages and housing. The study uses HUD fair market rents and HUD affordability defined as 30 percent of income. It notes shortages of affordable rentals, especially in West and Northeast, driven by a housing boom and limited new units.
MENTIONED IN THIS ARTICLE
Washington
Arkansas
U.S
National Low Income Housing Coalition
Bureau of Labor Statistics
District of Columbia
Ers
Department of Housing and Urban Development
New England
HUD
Harvard University
Joint Center For Housing Studies
California
mid-Atlantic
Puerto Rico
South
Missouri
Tennessee
Oklahoma