The report from the National Low Income Housing Coalition found that rent is so expensive these days that raising the minimum wage to $15 an hour would not even make a dent in most states. The state also has the fifth largest gap between the average hourly wage renters make, $12.85, and housing wage.
The National Low Income Housing Coalition released its 2018 "Out of Reach" report; it shows that the average Utah renter is paying 41% of their gross income on housing.
Nationally, the group found no metropolitan area in the country where a full-time worker making the federal minimum wage of $7.25 can afford a two-bedroom apartment. The minimum wage in Hawaii rose to $10.10 an hour this year. Pitkin's housing wage is $33.40, which is the highest in the state.
The report says, "The struggle to afford modest rental homes is not limited to minimum-wage workers".
The Trump administration has proposed spending cuts for fiscal year 2019 that could lead to more than 200,000 families losing federal rental assistance, the National Low Income Housing Coalition has calculated. However, the report's authors cautioned against thinking that increasing minimum wage would be a "silver bullet solution".
Carson said the proposal would help address rising costs of providing housing assistance, which he said now helps only one in four families who qualify.
"While the housing market may have recovered for many, we are nonetheless experiencing an affordable housing crisis, especially for very low-income families, " Sen. Compared to other states, Washington ranks as the eighth most expensive state for a two-bedroom apartment.
Champlain Housing Trust will build 76 new apartments this summer in Burlington and 60 additional units in South Burlington later in the year thanks to a $37 million bond to VHCB, Donelly said.
The day after the Seattle City Council repealed a tax that would have funded low-income housing, a new report highlights the ongoing lack of affordable housing for the nation's lowest income renters. But, if all you want to do is work, it'll take 143 hours per week at minimum wage.
Financial experts advise individuals should not spend more than 30 percent of his or her income on housing costs.
Hoover over each state to see how much you would need to earn to afford a modest apartment. Seven of the ten jobs expected to grow the most over the next decade pay less than the amount needed to afford a one-bedroom or two-bedroom apartment, according to the report. The number of homes renting for $2,000 or more per month almost doubled between 2005 and 2015. As it stands, only 1 in 4 households eligible for federal rent assistance gets any help, the report said.