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Florida’s Minimum Wage Workers Face 98-Hour Workweeks for One-Bedroom Apartments: Report

Florida’s Minimum Wage Workers Face 98-Hour Workweeks for One-Bedroom Apartments: Report

Securing affordable housing in Florida can be incredibly challenging, especially for individuals earning minimum wage. It can often feel like an ongoing battle.

According to a recent report by the National Low Income Housing Coalition, Florida is one of the top 10 states where a higher hourly wage is needed to afford housing. If you’re struggling to find an affordable home, you’re not alone. Many people are facing the same challenge.

According to the report, the income of minimum-wage workers in Florida is insufficient to cover the cost of living. According to a report, despite the state’s minimum wage being $12 an hour, renters would need to earn almost three times that amount in order to afford a two-bedroom home.

The NLIHC reports that the fair market rent for a two-bedroom is $1,833 per month. It would take an hourly wage of around $36 for a renter to afford it.

A one-bedroom apartment is more affordable, with a fair market rent of $1,525 per month. However, to afford this rent, a tenant would need to earn $29.33 per hour, which is well above the minimum wage.

In Florida, it is stated by the NLIHC that a person earning minimum wage would have to work an astonishing 98 hours a week to afford a one-bedroom apartment, and a staggering 117 hours a week for a two-bedroom apartment, also reported by WFLA.

A recent report from Zillow highlights the challenges faced by potential homeowners in Florida, particularly in Tampa, where the cost of living and housing has significantly increased.

Based on data from Zillow, it would take an individual with an annual income of $382,802 approximately 16.6 years to save enough money for the average down payment in the Tampa area, which currently stands at $181,195.

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