A one-bedroom rental is out of reach for more than 50% of wage earners nationwide, according to a report by the National Low Income Housing Coalition. The report says people who earn the federal minimum hourly wage of $7.25 would have to work 95 hours a week to afford a one-bedroom place at the average fair market rent. The average income needed to afford a one-bedroom rental is $26.74 an hour at fair market value, putting it beyond the means of median wages earned in more than half of the nation’s most common occupations, including administrative, food service, retail, construction and home health care. Millions of people facing these large gaps between income and rent rely on federal and state programs that help cover rent or create affordable units, but the poorest often still pay a high percentage of their income for rent, which limits their access to other necessities. Today’s Map Monday shows how many low-income renters each state has and the shortage of affordable rental units.
Source: National Low Income Housing Coalition