NEW YORK – A new report reveals the disparity between minimum wage and the cost of an average two-bedroom rental in different US cities. As you would expect, things are even worse in New York City compared to most of the country.
According to Out of Reach, in no state, metropolitan area, or county can a full-time minimum-wage worker afford a modest two-bedroom rental home, and these workers cannot afford modest one-bedroom apartments in 91% of US counties.
The Out of Reach report from the National Low Income Housing Coalition revealed New Yorkers are among those who have it the worst.
The study authors say that earning the state minimum wage of $13.20 an hour would require someone to work 114 hours a week to afford a 2-bedroom rental or 99 hours per week to afford a 1-bedroom rental.
According to the report, the average New York City resident needs to earn an hourly wage of $45 and work full-time to afford a two-bedroom apartment.
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Things are not much better on Long Island where the housing wage is $39.71 an hour. In Westchester, the minimum wage for a 2-bedroom rental is $36.21.
The hourly wage drops the further upstate you go.
The area that includes Poughkeepsie, Newburgh, and Middletown requires a $27.15 hourly salary to afford a 2-bedroom rental.
The National Low Income Housing Coalition is dedicated to achieving racially and socially equitable public policy that ensures people with the lowest incomes have quality homes that are accessible and affordable in communities of their choice.