Honolulu Workers Need $39 An Hour To Afford A 2-Bedroom Rental

Honolulu Workers Need $39 An Hour To Afford A 2-Bedroom Rental

Honolulu Workers Need $39 An Hour To Afford A 2-Bedroom Rental

According to the Out of Reach report, no one earning the federal minimum wage or any state minimum wage can comfortably afford a two-bedroom rental home at fair market rent working a 40 hour work week.

As CityLab's analysis of the report notes, "NLIHC estimates that the average renter's hourly wage in the United States is $16.88".

A worker in the USA making minimum wage can't afford to pay rent on a basic two-bedroom apartment without working a lot of overtime, and even downsizing to only one bedroom doesn't help much, a study found. FMR Rent for a one-bedroom apartment is $619, which requires 57 hours of work per week at the minimum wage of $8.30, and the numbers are even higher in cities like Cleveland and Cincinnati. Though the state recently raised its minimum wage to $10.10, households still need to earn $36.13 per hour to afford that 2-bedroom home.

All of these states have minimum wages higher than the federal minimum wage, but if you're looking for housing outside of the 22 counties, even these higher minimum wages aren't enough. Only registered nurses ($30.59) and customer-service representatives ($15.34) offer a housing wage, and customer-service representatives barely make the cut.

It's even worse in San Francisco, Marin and San Mateo counties, where workers need to net $60 an hour, or about $125,000.

"Make no mistake: while the housing market may have recovered for many, we are nonetheless experiencing an affordable housing crisis, especially for low-income families", Sen. But that's still almost double the Arkansas minimum wage of $8.50. But, if all you want to do is work, it'll take 143 hours per week at minimum wage.

The report, released by the National Low Income Housing Coalition and the Greater New Orleans Fair Housing Action Center, is already being used to urge city officials to work harder to keep housing prices down, particularly in a city dominated by the low-wage tourism industry.

Lastly, Hawaii, the state with the most expensive housing: The minimum wage there is $10.10, and the housing wage for a one-bedroom apartment is $27.44.

But if you're one of the many Bay Area residents fleeing because of the local housing crisis, you may still have difficulty elsewhere.

Financial experts advise individuals should not spend more than 30 percent of his or her income on housing costs.

In Arkansas, for example, you only need to earn a little over $13 for a typical two-bedroom apartment. That's considered the "housing wage", at which renters can afford to live somewhat comfortably. The number of homes renting for $2,000 or more per month almost doubled between 2005 and 2015.

"In America today, almost 11 million families pay more than half of their limited incomes toward rent and utilities", Sanders writes. Bernie Sanders, I-Vt., said in the report.

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