Rents Are Out Of Reach For Most Americans Earning Minimum Wage, Study Says: NPR

NPR, July 14, 2021. - A new study says on average someone would have to earn $24.90 per hour to rent a modest 2-bedroom home on no more than 30% of their pay. That's far more than the federal minimum wage. - Ed.

American renters are well aware of the dire housing market situation and a new report confirms that it's only likely to worsen unless hourly wages are drastically increased. Workers simply don't earn enough money to keep up with skyrocketing rental rates across the country, the National Low Income Housing Coalition found in its latest Out of Reach report.

"In no state, metropolitan area, or county in the U.S. can a worker earning the federal or prevailing state or local minimum wage afford a modest 2-bedroom rental home at fair market rent by working a standard 40-hour work week," the report released on Wednesday finds.

The coalition tracks how much money a person would have to earn to afford an apartment or other rental at fair market rent in their community. The report also defines "affordable" as 30% or less of a person's income. On average, a renter in search of a modest 2-BR home, who is seeking to stay within the 30% income window, needs to earn $24.90 per hour, the study says. (More than 3.4 times the federal minimum wage.) Those in search of a 1 -BR are in a similar position; they need to make $20.40 per hour.

Meanwhile, affordable units are increasingly rare. An analysis shows that only in 218 of more than 3,000 counties nationwide can a full-time minimum wage worker afford a 1 -BR rental home at fair market rent without dipping into income that should be used for all other living expenses and savings...

Read More,
https://www.npr.org/2021/07/14/1016230724/rents-are-out-of-reach-for-most-americans-earning-minimum-wage-a-study-says
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- Also: 'Eviction Prevention Programs Are Racing Against A Moratorium Clock,'
https://www.npr.org/2021/07/09/1014311252/eviction-prevention-programs-are-racing-against-a-moratorium-clock
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- *NLIHC Study Report: https://reports.nlihc.org/oor
'How Much Do You Need to Earn to Afford a Modest Apartment in Your State?' *MAP