ibusinesslines.com October 16, 2018

Average worker can't afford 2-bedroom apartment anywhere in US, report says

15 June 2018, 05:40 | Kelvin Horton

Average worker can't afford 2-bedroom apartment anywhere in US, report says

Average worker can't afford 2-bedroom apartment anywhere in US, report says

The state also has the fifth largest gap between the average hourly wage renters make, $12.85, and housing wage.

Today the National Low Income Housing Coalition released Out of Reach 2018, its latest annual report on housing costs, and well they're terrible.

But even with recent wage growth for the lowest-paid workers, there is still nowhere in the country where someone working a full-time minimum-wage job could afford to rent a modest two-bedroom apartment, according to an annual report released Wednesday by the National Low Income Housing Coalition. In Seattle, a worker making the mean wage would have to put in 49 hours for a one-bedroom and 60 hours for a two-bedroom. The National Low Income Housing Coalition used that number to calculate the hourly wage a household must earn to afford a home while spending 30 percent or less of their income on rent.

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.

The cheapest housing in the USA can be found in Arkansas, where the minimum wage is $8.50 an hour.

In Hawaii, the state with the most expensive housing, one would have to make $36.13 - about $75,000 a year - to afford a decent two-bedroom apartment.

Not even in Arkansas, the state with the cheapest housing in the country.

Meanwhile, Hawai'i's minimum wage is set at $10.10 per hour, with no future increases scheduled. The minimum wage in Redwood City, though it will soon increase, is $11. For a one-bedroom apartment, the NLIHC's report found you'd have to bring in $17.90 an hour. While the rental market added more than 6.7 million housing units between 2005 and 2015, the number of units renting for less than $800 dropped by more than 260,000, according to the report.

According to the study, low-wage work is expected to grow over the next 10 years, but seven of the ten occupations are expected to provide a median wage that is lower than the housing wage. Ben Carson, secretary of Housing and Urban Development, has proposed raising rent for those getting housing subsidies. Maui County's housing wage was calculated to be $31.13. Bernie Sanders of Vermont wrote in the report's preface.

Carson said the proposal would help address rising costs of providing housing assistance, which he said now helps only one in four families who qualify. It's hard to praise Cleveland for its affordability when there are an average of 12 evictions every single day and an enormous waiting list for housing vouchers through CMHA.

"We need innovative solutions, like the Smart Housing Mix policy, so that we're all pitching in to ensure everyone in New Orleans can stay and thrive", said Cashuana Hill, the Fair Housing Action Center's executive director.

Other News

Trending Now

Germany migrant row threatens Merkel coalition
The conflict that erupted over the plan jeopardized the coalition government, which has been functioning for only three months. Seehofer and join forces with lawmakers from the minister's Bavarian Christian Social Union in a vote to support the measure.

Can Elon Musk’s company really build Chicago’s high-speed Loop?
No information has been released about estimated construction costs or when construction might begin. Resistance to his tunneling project marks a somewhat new type of challenge for Musk.

Argentina line-up all but confirmed for World Cup match
But there's no doubt that the absence of a World Cup title on his impressive resumé of accomplishments rankles him. Winning the World Cup with Argentina would be the greatest achievement of his glittering career.

United States opens new US$ 250 million de facto embassy in Taipei
Yet, as NPR's Rob Schmitz explains , Washington has been creeping steadily closer to Taiwan under the Trump administration. Senior U.S. diplomats and Taiwan's president attended Tuesday's dedication ceremony, which took place in Taipei.

Kartik Aaryan, Daisy Shah attend Race 3 screening. See videos
Zero's 80 second-long teaser reveals Shah Rukh's dwarf character in an auditorium amidst thousands of cheering spectators. Besides Race 3 , Salman will also be seen in Ali Abbas Zafar's Bharat, which also stars Priyanka Chopra, and Kick 2.

Inspector General Debunks Trump's Political Bias Claims Against Comey
The president "is really anxious to see the report", said a person familiar with the planned Thursday briefing. "What is taking so long with the Inspector General's Report on Crooked Hillary and Slippery James Comey ".

Sarah Huckabee Sanders denies CBS News report she’s leaving the White House
According to the network, neither Sanders nor Shah responded to repeated requests for comment before the story was published. Staffers who have left or been forced out of their jobs have described a dysfunctional and toxic working environment.