Low-wage workers are getting priced out of America’s biggest cities.
While some cities, including Seattle and San Francisco, have recently raised the minimum wage to as much as $15 an hour, these increases often are still not enough.
According to the real-estate firm Zillow, renters on average should be spending about 30% of their wages on the cost of their residence to have enough money left over for other expenses. By this standard, San Franciscans would need to be effectively earning $65 an hour to live comfortably.
Using rent data from across the country, Zillow calculated what the minimum wage would have to be in various cities to meet that 30% threshold. It found that even $15 an hour would not be enough to cover the median rent in any of the 35 largest metro areas for a single person. Even if two people were contributing to rent, 24 cities would still be too expensive.
From Zillow’s report, we pulled the 11 cities where two roommates would need to earn at least $17 an hour each to afford the median rent.
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