Posted on 06/15/2018 5:27:42 AM PDT by Simon Green
The economy’s booming. Some states have raised minimum wages. 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.
Not even in Arkansas, the state with the cheapest housing in the country. One would need to earn $13.84 an hour — about $29,000 a year — to afford a two-bedroom apartment there. The minimum wage in Arkansas is $8.50 an hour.
Even the $15 living wage championed by Democrats would not make a dent in the vast majority of states.
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. The minimum wage in Hawaii rose to $10.10 an hour this year.
It gets worse in many metropolitan areas. San Francisco, Marin and San Mateo counties top the list of most expensive jurisdictions, where one would need to make $60.02 an hour to afford a modest two-bedroom apartment.
“The housing crisis is growing, especially for the lowest-income workers,” said Diane Yentel, president of the National Low Income Housing Coalition. “The rents are far out of reach from what the average renter is earning.”
(Excerpt) Read more at msn.com ...
And at the same time, local governments are refusing building permits for more apartment buildings, duplexes, row houses, houses, etc.... Promoting rental agreements and price fixing... Historic building restrictions. It has an affect on the rental and housing market.
that’s the truth.
“One word - roommates...”
My brother was an investment banker in NYC back in the 80’s. He made really good money by any standard and had to share an apartment with two room mates. You don’t get your own place on minimum wage. If all you can do is a minimum wage job, then perhaps you should not be procreating and living unsupervised
I had a roommate for several years after college.
And why would a single minimum wage earner need a two bedroom apartment? Meanwhile, a couple (without children), both earning minimum wage, could survive just fine.
3149 W Gracelawn Ave Flint, MI 48504
•2 beds
•1 bath
•900 sqft
•6098 sqft lot size
•Single-Family Home
For Sale By Owner $6,500
30 year mortgage would be somewhere around $50.00/month
There are several listings under $10K.
~~~~
LOL! What are the taxes like in Flint. Between property tax and income tax, that $50/mo is going to get crushed.
Also, what’s the job outlook look like in Flint? I mean, aside from the open positions at the local municipal water plant.
People who can’t afford a two bedroom apartment usually rent a room until they can afford a one bedroom apartment.. a so-on and so- forth.
More “living wage” BS.
Refugees get housing while veterans remain homeless.
A 2 BEDROOM!!!!!!?????
GEEZ! I graduated in 1976 and I can tell you a 2 bedroom was waaaaayyyyy outside of possibility for min wage!
ahem - one bedroom apartments, roommates, other family, etc. I’d also add in this economy if you are making minimum wage, you are doing something wrong (or an illegal immigrant). Pressure for entry level jobs is very high right now - should easily make at least $10/hr even with no skills. Become a shift lead and make $15/hr+ in retail/grocery/restaurant. Become a GM and make $60-$150k/yr in those same industries.
Yep.. the $200+ a month internet/TV/phone bill they can’t live without.
I would offer this assessment on a guy wanting to rent a two-bedroom in Germany...in a highly urbanized area (say Frankfurt or Koln)...your biggest trouble is just finding such a place for your income level free and open.
It’s rare now that new apartment buildings are being built, and if they are built....the bottom forty-percent of people can’t afford the rental costs. All of this forces the lower-income worker to seek out living spaces 20 to 40 miles outside of the urbanized area.
Note as well...that two-bedroom place? It’d be around 1,000 sq ft at best. Don’t even bring up a requirement for a 3-bedroom place because you’d need the equivalent of $1,700 for a marginalized quality place in Frankfurt-City itself.
Neither could I when I first started out. I rented a studio apartment.
Besides the obvious answer of “roommates”, I can tell you that you can get some very cheap housing in bad neighborhoods in Rockford, IL. You don’t go through a realtor or an agency: You drive the neighborhoods and gind signs, can use Craig’s List, and you can get a whole house. Heck, you can get a beat up but livable house in a bad neighborhood for $10K with the owner giving a lease to own.
I even had a roommate when I was working making what my dad called folding money!
It’s weird that there are no affordable apartments, considering that welfare bums and illegals and child raping jihadis all seem to be able to find apartments no problem.
I have been in that situation many times, so I got a roomate to help with the rent.
Germany is not included here, but you get the idea:
https://www.apartmenttherapy.com/average-home-sizes-around-the-151738
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