Americans working minimum wage jobs are reportedly struggling to expense renting two-bedroom accommodation in the United States.
Complex and CNN have both referred to The Out of Reach report which indicates the Housing Wage breakdowns for full-time hourly waged workers, estimating what they would need to earn to afford a rental home. These calculations are based on the “fair market value” without workers spending over 30% of their respective incomes.
To put things into a damning context, the federal minimum wage stands today at a measly $7.25 per hour. To rent a two-bedroom rental home, the Housing Wage is $24.90 per hour and $20.40 per hour for a one-bedroom. Without support or the possibility to claim benefits, this makes it virtually impossible for minimum wage works, full-time or part-time to afford a two-bedroom property.
At the current rates, a full-time minimum wage worker can afford a one-bedroom rental but only in 7% of all counties in the U.S.
Even if the Democrats introduced legislation that would see a rise of the federal minimum wage hit $15 by 2025, workers in this wage bracket would still need to save a significant amount of their income to afford either a one- or two-bedroom rental. Republicans on the other hand want the federal minimum wage to be lifted to just $10 in the next four years.