AUSTIN, Texas — A new study claims minimum wage employees have a hard time living in the Capital City.
Magnify Money found that Austin is the least affordable major U.S. city for minimum wage employees to live.
The study said Austin's median rent is $1,220 per month, while the city's minimum wage stands at $7.25 per hour. Magnify Money said that means that the median rent is equal to 143% of the take-home pay of minimum wage workers and that someone would have to work 200 hours a month to afford it.
The second-most expensive large city for these workers is Miami, according to the study. The rest of the top 10 most expensive cities were Atlanta; Dallas; Philadelphia; Houston; Orlando, FL; Charlotte, NC; and San Diego.
The most affordable? Chicago, which has a minimum wage of $13 per hour. But the study noted that even there, the median rent of $1,050 per month would claim 69% of a minimum wage employee's take-home pay.
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