Mainecat Posted October 16, 2023 Share Posted October 16, 2023 Here's The Hourly Income You Need To Afford Rent Around The U.S., And It's Not Looking Good Full-time workers who make minimum wage can’t afford a one-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 (NLIHC). 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 in 2022 is more than double the federal minimum wage of $7.25 per hour in every single state. Nationally, a person would need to make $25.82 per hour to pay for a modest two bedroom rental home without spending more than 30 percent of their income on housing. For a modest one-bedroom rental, it’s $21.25. Even where local minimum wages are higher than the federal standard, it’s not enough. “No local minimum wages are sufficient to afford a one-bedroom rental home at the fair market rent with a 40-hour workweek,” the group states. https://www.msn.com/en-us/money/personalfinance/here-s-the-hourly-income-you-need-to-afford-rent-around-the-u-s-and-it-s-not-looking-good/ar-AA1ifP5n?ocid=msedgntp&pc=ENTPHB&cvid=762e66468a2c477a8da0e57d826e653a&ei=49 Quote Link to comment Share on other sites More sharing options...
Edmo Posted October 16, 2023 Share Posted October 16, 2023 If you’re an adult and still making minimum wage you’re not trying hard enough. Most jobs around here start at $20 an hour and go up from there. 2 Quote Link to comment Share on other sites More sharing options...
Bontz Posted October 16, 2023 Share Posted October 16, 2023 Minimum wage? Uhhhh ... I'm pretty sure this isn't a new concept. People working for minimum wage probably weren't able to rent when homes/apartments were more realistically priced a few years ago. The reference to minimum wage earners is just dumb, so I'm not sure why the author would even bother to reference that. Yes, prices are stupid right now - along with interest rates being higher than most are used to. 1 Quote Link to comment Share on other sites More sharing options...
Snake Posted October 16, 2023 Share Posted October 16, 2023 Elects Joe Biden then complains...... 1 1 3 Quote Link to comment Share on other sites More sharing options...
Snake Posted October 16, 2023 Share Posted October 16, 2023 Look at the map then do a red state/blue state overlay.... with a few exception do you notice something? Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted October 16, 2023 Share Posted October 16, 2023 15 minutes ago, Snake said: Look at the map then do a red state/blue state overlay.... with a few exception do you notice something? yes... poor, uneducated and fat people live in red states. we've been over this already. Quote Link to comment Share on other sites More sharing options...
Mainecat Posted October 16, 2023 Author Share Posted October 16, 2023 (edited) 39 minutes ago, Crnr2Crnr said: yes... poor, uneducated and fat people live in red states. we've been over this already. The Repubs are proud of those successful red states. Edited October 16, 2023 by Mainecat Quote Link to comment Share on other sites More sharing options...
Snake Posted October 16, 2023 Share Posted October 16, 2023 1 minute ago, Mainecat said: The Repubs are proud of those successful red states. Isn't that why you live in one.... ? Quote Link to comment Share on other sites More sharing options...
Mainecat Posted October 16, 2023 Author Share Posted October 16, 2023 10 minutes ago, Snake said: Isn't that why you live in one.... ? Really? Are you this clueless? Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted October 16, 2023 Share Posted October 16, 2023 32 minutes ago, Mainecat said: The Repubs are proud of those successful red states. if you suppress education you get an illiterate low paid workforce... a Republican dream Quote Link to comment Share on other sites More sharing options...
DriftBusta Posted October 16, 2023 Share Posted October 16, 2023 1 minute ago, Crnr2Crnr said: if you suppress education you get an illiterate low paid workforce... a Republican dream um, thats actually a Democratic dream if you look at who votes for them. 1 Quote Link to comment Share on other sites More sharing options...
racer254 Posted October 16, 2023 Share Posted October 16, 2023 4 minutes ago, Crnr2Crnr said: if you suppress education you get an illiterate low paid workforce... a Republican dream I thought you claimed to be republican? Is that what you want? 1 Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted October 16, 2023 Share Posted October 16, 2023 2 minutes ago, DriftBusta said: um, thats actually a Democratic dream if you look at who votes for them. are you attempting to claim the Republicans want to spend more money on education than Democrats? Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted October 16, 2023 Share Posted October 16, 2023 1 minute ago, racer254 said: I thought you claimed to be republican? Is that what you want? well look who's here say, you never did reply when I asked how many minimum wage jobs are available at the company you work for a while back... Quote Link to comment Share on other sites More sharing options...
racer254 Posted October 16, 2023 Share Posted October 16, 2023 4 minutes ago, Crnr2Crnr said: well look who's here say, you never did reply when I asked how many minimum wage jobs are available at the company you work for a while back... When you start answering simple questions then maybe you will get the same back. 1 Quote Link to comment Share on other sites More sharing options...
Crnr2Crnr Posted October 16, 2023 Share Posted October 16, 2023 4 minutes ago, racer254 said: When you start answering simple questions then maybe you will get the same back. I'll answer questions with questions all day long and you'll like it... Quote Link to comment Share on other sites More sharing options...
Mag6240 Posted October 16, 2023 Share Posted October 16, 2023 (edited) Is this really anything new?? 35-40 years ago when I would have been in the “minimum wage” period of my life, I know I didn’t feel like I could have bought or rented my own place on what I would have made at a minimum wage job. No chance. And interest rates were higher than they are today. Edited October 16, 2023 by Mag6240 1 Quote Link to comment Share on other sites More sharing options...
Bontz Posted October 16, 2023 Share Posted October 16, 2023 4 minutes ago, Mag6240 said: Is this really anything new?? 35-40 years ago when I would have been in the “minimum wage” period of my life, I know I didn’t feel like I could have bought or rented my own place on what I would have made at a minimum wage job. No chance. Exactly!! The article is a joke, for anyone with a functioning brain. Quote Link to comment Share on other sites More sharing options...
Gold Member Stephen Hawking Posted October 16, 2023 Gold Member Share Posted October 16, 2023 Why don't these minimum wage workers just transition into one of the hundreds of thousands of good paying jobs biden is creating every month? 1 Quote Link to comment Share on other sites More sharing options...
Gold Member 800renegaderider Posted October 16, 2023 Gold Member Share Posted October 16, 2023 So are you saying we are gonna have to subsidize housing for all the illegals coming here to work low wage jobs Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted October 16, 2023 Platinum Contributing Member Share Posted October 16, 2023 15 hours ago, Mainecat said: Nationally, a person would need to make $25.82 per hour to pay for a modest two bedroom rental home without spending more than 30 percent of their income on housing. For a modest one-bedroom rental, it’s $21.25. So a single earning person making about $54K can afford a 2 bedroom rental home and its 30% of their income. That doesn't seem too unreasonable. Quote Link to comment Share on other sites More sharing options...
Snake Posted October 16, 2023 Share Posted October 16, 2023 28 minutes ago, Highmark said: So a single earning person making about $54K can afford a 2 bedroom rental home and its 30% of their income. That doesn't seem too unreasonable. Friend in Brooklyn is paying $3k plus for a studio. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted October 16, 2023 Platinum Contributing Member Share Posted October 16, 2023 3 minutes ago, Snake said: Friend in Brooklyn is paying $3k plus for a studio. I wouldn't consider Brooklyn average. Quote Link to comment Share on other sites More sharing options...
racer254 Posted October 16, 2023 Share Posted October 16, 2023 34 minutes ago, Highmark said: So a single earning person making about $54K can afford a 2 bedroom rental home and its 30% of their income. That doesn't seem too unreasonable. Does this mean I should raise my rates. 600 for a 3 bedroom? Quote Link to comment Share on other sites More sharing options...
Snake Posted October 16, 2023 Share Posted October 16, 2023 4 minutes ago, Highmark said: I wouldn't consider Brooklyn average. Not by any stretch. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.