Working full time on the federal minimum wage of $7.25 isn’t enough for workers to afford rent for a two-bedroom home anywhere in the United States, nor is it enough to afford a one-bedroom home in the vast majority of U.S. counties, a report from the National Low Income Housing Coalition finds.
The report also finds that, in fact, being able to afford a “modest” two-bedroom rental home anywhere in the U.S. is out of reach for a majority of American workers.
In order to afford the average two-bedroom rental in the country, a worker must make $24.90 an hour, or over $51,000 a year. That means nearly 60 percent of American workers wouldn’t be able to afford a two-bedroom home. The report defines affordability for rent as no more than 30 percent of a person’s income, a common standard.
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