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Thread: The Hourly Rate You Need to Afford Rent in the U.S.

  1. #1
    Senior Member Valiant Woman's Avatar
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    Question The Hourly Rate You Need to Afford Rent in the U.S.

    The average full-time minimum wage worker can’t afford rent in ANY state.

    Full-time workers who make minimum wage can’t afford a two-bedroom rental home in any state in the U.S. without spending more than the recommended 30 percent of their income, according to a report from the National Low Income Housing Coalition.

    The group’s annual “Out of Reach” report compares minimum wages and housing costs in states, metropolitan areas and counties across the country. This year’s results show the hourly wage rate needed for a “modest” two-bedroom rental is more than double the federal minimum wage of $7.25 per hour in all but four states.
    Arkansas has the lowest hourly income needed for a two-bedroom rental at $13.72, and the state minimum wage is $8.50, the report said. Hawaii demands the highest income of renters: Workers need to make $35.20 to rent a two-bedroom there, and the state minimum wage is just $9.25.

    At federal minimum wage, the average American worker would need to log 117-hour weeks for 52 weeks per year to afford a two-bedroom apartment or rental home, according to the report. For the overwhelming majority, not even sharing a dual income with a federal minimum wage-earning partner would cover a two-bedroom rental in their state.

    It’s a grim outlook similar to the group’s previous two reports, which also showed sobering disparities between income and rent. The report’s authors say poor political decisions are to blame.

    “[The report] shows why millions of low income renters are struggling to afford their homes,” NLIHC president Diane Yentel said in a press release. “We have the resources to solve the affordable housing crisis in America by rebalancing federal housing expenditures to serve our country’s most vulnerable households. We lack only the political will to do so.”

    Minimum wage hasn’t kept up with inflation: In 1968, the federal minimum wage was equivalent to $10.90 in 2015 dollars ― nearly $4 higher than today’s actual federal minimum wage, CNBC reports.

    See the full report for more details.


    The Hourly Rate You Need to Afford Rent in the U.S.-img_0162-jpg

    http://www.huffingtonpost.com/entry/...ushpmg00000032

    I don't trust much that I read in the Huffington Post, so this assessment may be somewhat slanted. And I believe it's a political ploy for Liberals to use in their fight to raise the minimum wage. However, there may be some validity as far as what the cost of rent is in many of these states. I know here in Oklahoma, it's pretty high for the newer homes and apartments with upgraded amenities.
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    Super Moderator Quest's Avatar
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    Where I disagree with the concept is that the Federal Government should force private businesses to keep up with inflation...

    Where is it written that people are entitled to 2 bedroom houses or apartments? A vicious cycle is created when government...

    The purpose of capitalism is to allow the market to drive the economy...not the government make sure it stays in some kind of perceived moral balance...

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    Super Moderator Quest's Avatar
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    Take California for instance....the government is corrupt and their tax rate is out the roof...so why should the FED's force companies to pay higher wages which will drive up prices...inflate the market...
    When companies can't find workers at their pay scale they will raise it to get them...the market can adjust itself if they would leave it alone...IMHO

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    Senior Member Valiant Woman's Avatar
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    Quote Originally Posted by Quest View Post
    Take California for instance....the government is corrupt and their tax rate is out the roof...so why should the FED's force companies to pay higher wages which will drive up prices...inflate the market...
    When companies can't find workers at their pay scale they will raise it to get them...the market can adjust itself if they would leave it alone...IMHO

    Quote Originally Posted by Quest View Post
    Where I disagree with the concept is that the Federal Government should force private businesses to keep up with inflation...

    Where is it written that people are entitled to 2 bedroom houses or apartments? A vicious cycle is created when government...

    The purpose of capitalism is to allow the market to drive the economy...not the government make sure it stays in some kind of perceived moral balance...
    I agree Quest. The Dems use these kind of scare tactics to get votes. The Huff Post is just another media cohort they use to achieve their wicked agenda.
    When your praise match your prayers, the answer will come.
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  7. The Following 2 Users Say Thank You to Valiant Woman For This Useful Post:

    Quest (06-24-2017), Romans828 (06-24-2017)

  8. #5
    So if the Son sets you free, you will be free indeed. John's Avatar
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    I agree with Quest and Valiant Woman in theory but government has by and large destroyed many otherwise well paying jobs. Our corrupt leaders having sold out to foreign interests and essentially outsourcing our economy has left us with this, folks fighting for the crumbs.

    This is another false paradigm (US vs. them, our fellow citizens), when the reality is that THEY (corrupt officials) created this stink. I'll not begrudge someone the crumbs but I would like to see some folks imprisoned for the misery they have imputed onto the citizenry.

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    Senior Member Nikos's Avatar
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    Minimum wage should be at $18.50. Now!

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