By Spencer McKee | Out There Colorado
It’s no secret that housing prices around the country have gotten quite lofty in recent years – all while the federal minimum wage has stayed at the $7.25 that was established in 2009. That said, 34 states have increased their own minimum wages above the federal level and some cities have established local minimum wage requirements that are even higher than those required by their state. Denver, for example, has a minimum wage of $18.29 an hour above Colorado’s required $14.42.
A recent report from Clever took a dive into the topic of minimum wage and affordability, using data to determine where around the country minimum wage workers spend the largest and smallest share of their income on rent. Their report compares local minimum wage earnings to the cost of renting a one-bedroom spot in the country’s 50 largest cities.