Rents pricing out minimum-wage workers across the US, report says

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The annual Out of Reach report from the National Low Income Housing Coalition analyzed every county in the USA and found that there isn't anywhere that someone working a minimum wage job, 40 hours a week, can afford a two-bedroom. In the Oakland metropolitan area, which includes Alameda and Contra Costa counties, renters earn an average of $22 an hour - much more than Oakland's $13.23 minimum wage.

Using the federal minimum wage of $7.25 an hour and national and statewide data on rental prices, researchers found that the average worker would have to put in 122 hours per week to afford a two-bedroom apartment at the national fair market rent, an estimate the government updates every year, usually based on the 40th percentile of the gross rent of a given area. FMR Rent for a one-bedroom apartment is $619, which requires 57 hours of work per week at the minimum wage of $8.30, and the numbers are even higher in cities like Cleveland and Cincinnati.

Minimum wage doesn't cover the cost of rent anywhere in the United States - not Hawaii, not Arkansas, not anywhere. This is due in part to the fact that these states have higher minimum wages than the federal minimum.

In Marin, San Francisco, and San Mateo Counties, you'll need to make at least $60 an hour - as much as $90 in some zip codes.

"It's a national problem", said Andrew Aurand, vice president of research for the National Low Income Housing Coalition.

The Aloha State also had the biggest shortfall between that target wage and the wage paid to the average renter.

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Not even in Arkansas, the state with the cheapest housing in the country.

Financial experts advise individuals should not spend more than 30 percent of his or her income on housing costs. For someone in need of a two-bedroom, like a single parent with a child, that jumps up to 93 hours per week.

San Francisco tops the list for the cities with the most expensive housing wage.

In Hawaii, which has the nation's most expensive rental market, prospective renters have to make $36.13 an hour to afford a two-bedroom apartment on their own.

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. Eric Thomas will have more on this study starting at 4 p.m. on ABC7 News. Bernie Sanders of Vermont wrote in the report's preface.

Trump's proposed cuts for the 2019 fiscal year, the NLIHC report says, would "lead to the largest reduction in affordable housing and community development investments in decades", taking "vital federal rental assistance" from 200,000 families. Already three out of four eligible households receive no assistance.

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