Minimum Wage Not Enough to Live On
The National Low Income Housing Coalition reports that the average worker needs to make at least three times the minimum wage to be able to afford the rent for a two-bedroom apartment.
The annual report titled, Out of Reach, concluded that $14.66 an hour is required for anyone wishing to be able to afford food and other basics in addition to rent.
The Bureau of Labor Statistics says that 2.2 million workers earn the federal minimum wage of $5.15 an hour or less.
Source: Associated Press
Moderator’s Comment: Should the minimum wage be increased
from $5.15 an hour?
According to the report, the gap between housing rental
costs and wages has expanded over the past four years. The Department of Housing
and Urban Development (HUD) considers housing affordable when it costs no more
than 30 percent of a worker’s gross income. The National Low Income Housing
Coalition report says that 37 states had housing costs that were greater than
twice the $5.15 minimum wage. [George
Anderson – Moderator]