This Is The Amount You Need To Earn To Afford A 2 Bedroom In Iowa
Housing in the United States is expensive, no matter how you slice it. According to a new report from the National Low Income Housing Coalition, almost every state in the US would require a minimum of double the federal minimum wage ($7.25) just to afford a 2 bedroom rental.
In Iowa, the minimum wage is the same as federal- $7.25, while the amount needed to afford a 2 bedroom is $14.57, without spending more than 30 percent of the worker's income on rent. This means either minimum wage workers must find a working roommate or two, make sacrifices in other areas, or they live in even smaller housing.
If you live on the Illinois side of the Quad Cities, the news is even worse- a minimum income of $20.87 per hour is required to afford a 2 bedroom. The state with the lowest income required is Arkansas, at $13.72, while Hawaii requires a whopping $35.20 hourly wage.
Without getting into a debate over making the minimum wage higher, you have to admit that these numbers are pretty staggering. I know plenty of educated, hard-working people that struggle just to make $12 an hour, let alone $14 or $20. I guarantee there are plenty of people out there going without food just to be able to afford a place to live, and that's pretty upsetting.
Check out the rest of the income map over at Huffington Post.