August 11, 2017

Less than one percent of minimum wage workers can afford a one bedroom apartment

CNBC - The percentage of American full-time minimum-wage workers who can afford to rent a one-bedroom apartment in any U.S. state without being what the government calls "burdened" is so vanishingly small — less than one percent — that it rounds down to zero.

That's the conclusion of the National Low Income Housing Coalition, a lobbying group that pushes for more low-income housing and also reports that no full-time minimum-wage worker can afford a two-bedroom apartment in any U.S. state. ... The cost of housing has risen so significantly that even a one-bedroom is out of reach everywhere except in 12 counties located in rural Washington, Arizona and Oregon, reports Laura Bliss for CityLab.

1 comment:

greg gerritt said...

The price of housing is artifically propped up by an entire system biased towards real estate specualtion as economic devleopment. If real estate prices were affordable, the banks would be out of buisness.