Housing Vs Minimum Wage

Blog: itwforprofit.com
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Housing

If there are ways a family can earn above the minimum wage, then we need to teach another model of revenue building to help end homelessness in 2021.

A lack of affordable housing and the limited scale of housing assistance programs have contributed to the current housing crisis and to homelessness. Recently, foreclosures have also increased the number of people who experience homelessness.

The National Low Income Housing Coalition estimates that the 2017 Housing Wage is $21.21 per hour, exceeding the $16.38 hourly wage earned by the average renter by almost $5.00 an hour, and greatly exceeding wages earned by low income renter households. In fact, the hourly wage needed for renters hoping to afford a two-bedroom rental home is $13.96 higher than the national minimum wage of $7.25.

Homelessness in America