Increasing The Minimum Wage To $15 Still Won't Be Enough To Cover Rent

by
Data from the National Low Income Housing Coalition reveals how much it costs to put a roof over your head. In short, the federal minimum wage is not enough.

A new infographic by The National Low Income Housing Coalition shows state-by-state what the minimum hourly wage would have to be in order for citizens to be able to afford a two-bedroom apartment without using more than 30 percent of their salary.

The Democratic Party's proposed $15 hourly wage simply isn't enough to cover housing costs.

minimum wage to pay rent

Needless to say, the current federal minimum wage of $7.25 isn’t enough either to cover basic housing costs, if basic can be considered to be a two-bedroom apartment.

Arkansas is ranked as the most affordable state to live in with an estimated $13.26 hourly wage needed to afford a two-bedroom rental. On the flip side, Hawaii is the most expensive, with an outrageously high $34.22 as the needed hourly wage to be able to rent a two-bedroom apartment.  

This new data, however, should not undermine the fact that many states and cities have instituted their own minimum wage which surpasses the present federal suggestion.

But the problem remains that most workers, even those working full-time, are unable to afford rent.

According to ThinkProgress, nationally “only 12 counties and one metropolitan area have ensured a floor that allows a worker to afford a one-bedroom.” However, this is not viable if the worker has a family, in which case a two-bedroom apartment is legally required in most states to house four people.  

The average wage of renters is reportedly $15.42, which is just not enough to afford a one-bedroom, let alone a two-bedroom apartment. 

 

 

Banner Image Credit: Wikimedia Commons

View Comments

Recommended For You