A new study has found that the five biggest cities in Texas are among the least affordable in the country for renters making minimum wage.
conducted by a popular real estate website has found that the five biggest cities in Texas are among the least affordable in the country for renters making minimum wage.
For a one-bedroom apartment, all fell in the top ten least affordable for minimum wage workers in the U.S. Dallas ranked sixth with an average of 3.3 full-time minimum wage jobs needed to afford a month's rent. Fort Worth was close behind with an average of 3.1. Austin was the second worst in the country, falling just under Atlanta with an average of 4.0. San Antonio was ranked eighth with an average of 3.1 and Houston ninth with an average of 3.0.
Although these numbers are high, Zillow notes that only 10 cities required on average two or fewer minimum wage workers to afford a two-bedroom apartment. In none of the cities analyzed was a single minimum wage worker able to afford a one-bedroom.Zillow's analysis noted that overall, cities with minimum wages over the federal minimum of $7.25 tended to fare better than those with higher wages. On average, 2.
Zillow said that it's important to also consider basic supply and demand, which they claim is the primary driver of growing housing costs. Building more homes is one possible solution to the problem, but Zillow notes that"even modest densification measures — such as allowing two units of housing on a fraction of single-family lots in large metros — could add 3.3 million homes and meaningfully slow housing price growth over the long term.
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