In 99 percent of U.S. counties, minimum wage can?t get you an affordable one-bedroom rental The affordable housing crisis for low-income workers in the United States was put in stark terms by the National Low Income Housing Coalition?s (NLIHC) annual Out of Reach report on Tuesday.
According to the report, fair market rent for one-bedroom rentals in 99 percent of counties in the U.S. are not affordable?with affordable defined as 30 percent or less of a renter?s income?for a full-time minimum wage worker; there are currently 1.8 million people making minimum wage or less. While the federal minimum wage has remained stuck at $7.25 since the aftermath of the financial crisis, rents have risen at a steady clip between 2.5 and 4 percent since 2012, according to Harvard?s Joint Center for Housing Studies.
On the national level, affordable rent for someone living on Social Security income?roughly 8 million people?would be just $231 per month. For someone living on minimum wage it?s $377, and for someone making the average renter wage, it?s $913. These amounts are all lower than the national average fair market rent for a one-bedroom?$970.
With Americans feeling the pinch across the country, housing has become a national issue that?s picking up steam among 2020 presidential candidates. Elizabeth Warren, Cory Booker, and Kamala Harris have all released housing plans, and NLIHC president and CEO Diane Yentel believes the report shows that the federal government n...