Sunday, February 7, 2016

Updated and Expanded Minimum Wage vs HUD Fair Market Rent Comparisons.

In my prior post HERE, I published an Excel workbook with a series of worksheets and a graph showing by county the hours of minimum wage work required per week to afford the 2016 Fair Market rents.  This used a revised two tier minimum wage proposal floated by Governor Brown.

Friday the Senate Workforce Committee passed a three tier minimum wage bill on to the Senate for consideration. For July 2016 the minimum wage would be $9.75 except for some non urban counties where it would be $9.50. (In later years, three tiers come into play but Fair Market Rents will have also changed by that time).

I have constructed a new Excel workbook HERE with several comparisons between the fair market rent and the new JULY 2016 proposed three tier minimum wage by county. 

1. A graph showing the weekly hours required to afford the 2 bedroom fair market rent in each county. 

2. A worksheet with the data used to support the graph, as well as hours per week required for different bedroom sizes. 
3. A graph showing what % of a full time minimum wage would be required to pay the 2 BR fair market rent. [This is pasted as a picture below]
4. A worksheet with the data used to support the graph, as well as the cost burdens for different bedroom sizes. 
5. A worksheet showing, by bedroom size,  the % and $$ difference between the affordable rent for a full time minimum wage worker and the fair market rent. 
6. A listing of the 18 non urban counties that make up the third tier. 
7. A link to the "Dash 13" amended bill that includes the third tier counties and the phase in schedule. 

Note in graph below that even with the proposed increased minimum wage in July 2016:

  • In all counties, the 2 BR rent cost burden exceeds 30%.
  • In 10 counties, the 2 BR rent cost burden exceeds 50%.

Originally created and posted on the Oregon Housing Blog

No comments:

Post a Comment