According to the National Low Income Housing Coalition (NLIHC), it is not possible to afford a two-bedroom apartment at the fair market rent price working full-time at the current minimum wage — in any state.
- HUD determined the national housing wage for a two-bedroom unit to be $20.30.
- Hawaii has the highest housing wage at $34.22.
- Minimum wage workers need to work 112 hours per week to afford reasonable housing that does not exceed 30 percent of their yearly income.
EMBRACE. FOCUS. EXECUTE. Build your 2019 roadmap to success with 4,000+ real estate leaders.
Inman Connect New York | January 29 - February 1, 2019