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Finding affordable rent on a minimum wage is nearly impossible, - KTVQ.com | Q2 | Continuous News Coverage | Billings, MT

Finding affordable rent on a minimum wage is nearly impossible, study finds

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Courtesy of the National Low Income Housing Coalition website) Courtesy of the National Low Income Housing Coalition website)

Across the country, millions of Americans struggle to find affordable rent.

On a minimum wage, finding affordable housing in the U.S. is nearly impossible.

In Montana, a person needs to work almost double time to see an 80 percent wage increase.

The federal minimum wage is $7.25. The current minimum wage in Montana is $8.15.

In no state can a person working full-time at the federal minimum wage afford a two-bedroom apartment or rental home at the Fair Market Rent.

These are some the of statistics from a recent study on affordable rent in America.

The report shows what an hourly worker needs without paying more than 30 percent of their income.

A renter earning the federal minimum wage of $7.25 per hour would need to work 117 hours per week to afford a two-bedroom rental home at the Fair Market Rent and 94.5 hours per week to afford a one-bedroom rental.

In only 12 counties can a full-time worker earning the prevailing federal or state minimum wage afford a one-bedroom rental home.

The study found to afford a modest one-bedroom rental home while earning the minimum wage in Montana ($8.15), a person would need to work 58 hours per week.

To make ends meet in Montana on minimum wage, the National Low Income Housing Coalition found the minimum wage would need to be $14.90 per hour to afford a two-bedroom rental home.

A person would need to work 73 hours per week at minimum wage today to afford a two-bedroom rental home.

Montana is one of the most affordable states coming in as the 9th most affordable state.

Hawaii is the most expensive state requiring a minimum wage of $35.00 per hour to rent a two-bedroom rental.

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