New Study Says Rent is Unaffordable in Every State
A new study from the National Low Income Housing Coalition (NLIHC) shows that the housing situation in this country not good. The latest numbers paint a grim picture for anyone trying to rent a place to live on a minimum wage job. Basically, you can't.
The data collected by the NLIHC shows that rent is unaffordable in every single state of the union. Based on the current minimum wage ($7.25 per hour) and the average rental price of a modest 1 or 2 bedroom house (the type of living situation determined to be necessary for the average modern family), a worker would have to churn out a 127 hour work week in order to make ends meet. Just so you know, there are only 168 hours in a week.
In Louisiana (ranked 31st), we fare a little better - but it still isn't good. If you make the minimum wage in the Sportman's Paradise, you have to put in 93 hours every week to afford the place you need. In Hawaii (ranked 1st), you would have to make $36.82 per hour to be able to afford that modest apartment or home for your family - alternatively, you could work 143 hours a week at minimum wage to make ends meet. In the most affordable state ranked on this list, Arkansas, you still have to make $14.26 an hour (almost twice the minimum wage) to reach the same goal working the standard, 40 hour work week!
These numbers are based on workers paying no more than 30% of their wages on housing. Currently, the average national renter's wage is $17.57 - the wage needed to afford an average one-bedroom apartment is $18.65.