NYC Rent On a Minimum Wage Salary? That'll Be Over 100 Hours a WeekNew study found that affordable housing across the nation is increasingly inaccessible, especially to those working minimum wage jobs.
While the housing market hasbegun to slow, America's busiest cities still have priced out millions, especially those working minimum wage jobs, a study fromUnited Way of the National Capital Areafound.
On average, minimum wage workers must work at least 80 hours a week to afford a one-bedroom apartment in certain metropolitan areas.
At the top of the list is Hawaii where those earning minimum wage must work 114 hours a week to rent a one-bedroom apartment. A close second isNew York City, where workers would have to work 111 hours a week.
New York City came in as number one for the city with the largest housing shortage across the country, at an 805,452 deficit. The Big Apple was followed by Los Angeles, Miami, and Chicago.
Related:Rent Prices Could Finally Be Cooling -- But Not in These Cities
On the other end of the spectrum, cities with the smallest number of housing shortages were Louisville, Buffalo, Raleigh, and Rochester.
The data shows that populated metropolitan areas will yield to a competitive rental market. However, the landscape is still ruthless, despite signs of the marketslowing down.
