Below are a few startling affordable housing facts, as they pertain to PA & KY. Remember, affordable housing is defined as costing no more than 30% of your gross income on your gross housing costs, this would include rent & utilities.
In Pennsylvania, a minimum wage worker earns an hourly wage of $7.25. In order to afford the FMR (Fair Market Rent) for a two-bedroom apartment ($837), a minimum wage earner must work 89 hours per week, 52 weeks per year. Or, a household must include 2.2 minimum wage earner(s) working 40 hours per week year-round in order to make the two bedroom FMR affordable.
What does this mean? A family with two full time working people/parents making minimum wage still, after working 40 hours a week, 52 weeks a year, could not afford a 2-bedroom apartment at FMR.
In Kentucky, a minimum wage worker earns an hourly wage of $7.25. In order to afford the FMR for a two-bedroom apartment ($634), a minimum wage earner must work 67 hours per week, 52 weeks per year. Or, a household must include 1.7 minimum wage earner(s) working 40 hours per week year-round in order to make the two bedroom FMR affordable.
The story is a little brighter here, with two full time working household members a family in KY could afford a 2-bedroom apartment at FMR.
Thanks to NLIHC for all the great information!
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