A worker in Louisiana earning the minimum wage would have to work 76 hours per week to afford a one-bedroom rental home, according to a new report from the National Low Income Housing Coalition. Louisiana does not have a state minimum wage and relies on the federal minimum wage of $7.25 per hour. The federal minimum wage has not increased since 2009 and has lost 12.9 percent of its purchasing power since that time. The report also paints a grim picture for affordable housing across the nation.
Number of the Day
$717 - Monthly “fair market” rent for a 1-bedroom apartment in Louisiana. A worker would need to make $14.07 per hour to make that affordable - which would require 76 hours per week of work at the $7.25 federal minimum wage (Source: National Low Income Housing Coalition)