It is getting harder for low-income Americans to afford a modest apartment.
In no state can an individual working a 40-hour week at the minimum wage afford a two-bedroom apartment for his or her family. A one-bedroom apartment is even out of the worker's grasp.
The 2013 housing wage is $18.79, exceeding the $14.77 hourly wage earned by the average renter by $4 an hour, and greatly exceeding the national minimum wage of $7.25, reports the National Low Income Housing Coalition (NLIHC) in its new "Out of Reach 2013" report.
Read more...Housing Moves Further Out Of Reach - Housing Data, Affordable Housing - Multifamily Executive Magazine