[US] Minimum wage workers in NYC must work 111 hours a week to make rent

[US] Minimum wage workers in NYC must work 111 hours a week to make rent
19 Oct 2022

A recent survey has revealed that, in many major US cities, minimum wage workers need to clock up more than 50 hours each week just to be able to afford rent on a one-bedroom home, CNBC reports.

The survey was carried out by United Way of the National Capital Area. It found that in New York City minimum wage earners would need to work 111 hours to afford to rent a one-bedroom home.

United Way reportedly used data from the National Low Income Housing Coalition (NLIHC) to calculate the number of hours a minimum wage worker would need to put in each week in order to afford rent in the 50 biggest US cities.

A worker earning minimum wage can afford to work less than 50 hours a week in only two cities on the list: Tucson, Arizona, and Buffalo, New York.

CNBC has summarised the number of hours a minimum wage worker needs to clock up in order to afford a one-bedroom rental in the 10 largest US cities and the minimum wage paid in each respective city: 

New York City

Hours required: 111

Minimum wage: $15

Los Angeles

Hours required: 84

Minimum wage: $15.96

Chicago

Hours required: 112

Minimum wage: $15.40

Houston

Hours required: 104

Minimum wage: $7.25

Phoenix

Hours required: 65

Minimum wage: $12.80

Philadelphia

Hours required: 110

Minimum wage: $7.25

San Antonio, Texas

Hours required: 97

Minimum wage: $7.25

San Diego

Hours required: 90

Minimum wage: $15

Dallas

Hours required: 120

Minimum wage: $7.25

San Jose, California

Hours required: 141

Minimum wage: $16.20

Finding affordable housing was difficult for many even before the onset of the pandemic and COVID only made these issues starker.

“By August 2020, as many as 12 million households were at risk of losing their homes if the government didn’t act,” NLIHC President and CEO Diane Yentel told CNBC Make It. “Many were among those already struggling to pay rent when the pandemic brought sudden job losses, reduced work hours and higher costs for health care, child care and the internet.”

A number of emergency measures were put in place to mitigate the housing crisis at the beginning of the pandemic. However, as these temporary solutions came to an end the number of affordable rental homes available has not kept up with demand.

“Last year, the cost of rent rose an unprecedented 14% nationally, with some cities seeing rent increases as high as 40%,” Ms Yentel said. “These price increases affect renters of all incomes but threaten the lowest-income renters most.” 

According to Ms Yentel, NLIHC data shows that for every 10 low-income households, less than four homes are both affordable and available.

“As a result of the shortage, nearly 10 million of the lowest-income renter households pay at least half of their limited incomes to keep a roof over their heads,” Ms Yentel said.


Source: CNBC

(Link and quotes via original reporting)

A recent survey has revealed that, in many major US cities, minimum wage workers need to clock up more than 50 hours each week just to be able to afford rent on a one-bedroom home, CNBC reports.

The survey was carried out by United Way of the National Capital Area. It found that in New York City minimum wage earners would need to work 111 hours to afford to rent a one-bedroom home.

United Way reportedly used data from the National Low Income Housing Coalition (NLIHC) to calculate the number of hours a minimum wage worker would need to put in each week in order to afford rent in the 50 biggest US cities.

A worker earning minimum wage can afford to work less than 50 hours a week in only two cities on the list: Tucson, Arizona, and Buffalo, New York.

CNBC has summarised the number of hours a minimum wage worker needs to clock up in order to afford a one-bedroom rental in the 10 largest US cities and the minimum wage paid in each respective city: 

New York City

Hours required: 111

Minimum wage: $15

Los Angeles

Hours required: 84

Minimum wage: $15.96

Chicago

Hours required: 112

Minimum wage: $15.40

Houston

Hours required: 104

Minimum wage: $7.25

Phoenix

Hours required: 65

Minimum wage: $12.80

Philadelphia

Hours required: 110

Minimum wage: $7.25

San Antonio, Texas

Hours required: 97

Minimum wage: $7.25

San Diego

Hours required: 90

Minimum wage: $15

Dallas

Hours required: 120

Minimum wage: $7.25

San Jose, California

Hours required: 141

Minimum wage: $16.20

Finding affordable housing was difficult for many even before the onset of the pandemic and COVID only made these issues starker.

“By August 2020, as many as 12 million households were at risk of losing their homes if the government didn’t act,” NLIHC President and CEO Diane Yentel told CNBC Make It. “Many were among those already struggling to pay rent when the pandemic brought sudden job losses, reduced work hours and higher costs for health care, child care and the internet.”

A number of emergency measures were put in place to mitigate the housing crisis at the beginning of the pandemic. However, as these temporary solutions came to an end the number of affordable rental homes available has not kept up with demand.

“Last year, the cost of rent rose an unprecedented 14% nationally, with some cities seeing rent increases as high as 40%,” Ms Yentel said. “These price increases affect renters of all incomes but threaten the lowest-income renters most.” 

According to Ms Yentel, NLIHC data shows that for every 10 low-income households, less than four homes are both affordable and available.

“As a result of the shortage, nearly 10 million of the lowest-income renter households pay at least half of their limited incomes to keep a roof over their heads,” Ms Yentel said.


Source: CNBC

(Link and quotes via original reporting)