Updated 4:04 p.m.
Missouri's rental climate isn't as severe as California's. Or, more specifically, San Francisco's. Or even Austin's. However, a new study says that no state is really a free-and-clear bastion for someone working minimum wage - Missouri included:
"In no state can a minimum wage worker afford a two-bedroom unit at Fair Market Rent, working a standard 40-hour work week, without paying more than 30% of their income."
The study is a new one out this month from the National Low Income Housing Coalition.
So, what does it take in Missouri to get that two-bedroom? First a couple of things:
- Fair Market Rent in Missouri for a two-bedroom apartment: $732
- Minimum wage is $7.35
The Coalition's analysis says in order to afford a two-bedroom apartment at fair market rent (meaning not spending more than 30 percent of one's gross income on the gross costs of housing):
One person would need to work (at minimum wage):
- 77 hours per week
- 52 weeks per year
or, 1.9 people could work (at minimum wage):
- 40 hours per week
- 52 weeks per year
Illinois
Here are the stats for neighboring Illinois, too. The basics for the Land of Lincoln:
- Fair Market Rent for a two-bedroom apartment: $885
- Minimum wage is $8.25
So, that translates into the following in relation to rent and hours worked at a minimum wage job:
One person would need to work:
- 82 hours per week
- 52 weeks per year
or, 2.1 people would need to work:
- 40 hours per week
- 52 weeks per year
Follow Kelsey Proud on Twitter: @KelseyProud
