The national average wage workers would need to earn in order to make rent payments on a two-bedroom apartment is $22.10 an hour, according to Out of Reach, an annual report from the National Low Income Housing Coalition that examines the shortfall between wages and the costs of renting.
MA is the sixth-most expensive state for renters, according to the study.
An afternoon recap of the day's most important business news, delivered weekdays.
In California, the gap is even greater.
The National Low Income Housing Coalition, an advocacy group, published a new report Wednesday highlighting the disparities between incomes and rents nationwide.
Perhaps not surprising to prospective Bay Area renters, the San Francisco market (San Francisco and San Mateo counties) had the highest "housing wage" in the country.
The disparity is starkest in major metropolitan areas. The city is one of many now buckling under rising housing costs, Seattle's having been propelled in part by the same corporations that fought against the tax.
A map included in the report shows the rent necessary in each state to afford a two-bedroom home. Credit National Low Income Housing Coalition
In San Jose, where the minimum wage is $13.50 an hour, workers would have to hold down 3.6 full-time, minimum-wage jobs to afford a two-bedroom apartment. Luckily, the average wage of a renter in Cuyahoga County is $15.38, further promoting Cleveland as " a very affordable, decent place to live".
That's three times the state minimum wage of 411.
The report's authors adhere to the standard that no household should spend more than 30 percent of its gross income on housing costs, and they assume that each household would be paid for 40-hour workweeks for 52 weeks a year.
In Massachusetts, renters would need to make $23.15 an hour to afford a one-bedroom, the report said.
Hawai'i has the highest "housing wage" in the country, at $36.13 per hour, according to a new national report released today, or over $75,000 per year. The number of homes renting for $2,000 or more per month almost doubled between 2005 and 2015. Bernie Sanders in the report's preface. It's hard to praise Cleveland for its affordability when there are an average of 12 evictions every single day and an enormous waiting list for housing vouchers through CMHA.
The low-wage workforce is projected to grow over the next decade, particularly in service-sector jobs such as personal-care aides and food-preparation workers. Ben Carson, secretary of Housing and Urban Development, has proposed raising rent for those getting housing subsidies. Already three out of four eligible households receive no assistance.
City officials have been considering the so-called Smart Housing Mix - a policy that would require developers to reserve some apartments in large complexes for low-income residents - for almost two years but have not finalized those plans.
World Cup opening ceremony & Russian Federation vs Sauda Arabia
Both sides tried to assert their dominance in the opening exchanges by holding onto the ball and dictating the tempo of the game. It is the first time that a substitute has scored in the opening game of a Fifa World Cup competition.