What Should The Minimum Wage In Colorado Be?
To rent a two-bedroom home in Colorado, we would need to make how much an hour?
According to a study done by the National Low Income Housing Coalition, us Coloradans would have to make $21.97 an hour to afford a two-bedroom rental home. The federal minimum right now is $9.30.
This is based on a full-time worker (40 hours a week) and not paying more than 30 percent of income towards housing.
That $21.97 is actually somewhat in the middle compared to the rest of the country. Let's break down the top five and the bottom five.
The lowest wage needed:
- Idaho $14.65
- Iowa $15.57
- West Virginia $14.49
- South Dakota $14.12
- Arkansas $13.72
The highest wage needed:
- Alaska $24.16
- New York $28.08
- Maryland $28.27
- D.C. $33.58
- California $30.92
Even the lowest wage needed in Arkansas is still higher than minimum wage is now.
I work on salary, which has its good points and bad points. Mainly, don't work a 40-hour week. Oh, no, it's much more than that and I don't get a dime extra over 40 hours. But, I don't do my job for the money, I truly love what I do, so the extra hours and weekends don't bother me that much. Plus, it's just me. I can't imagine what it is like trying to raise a family on $9.30 an hour and that's before taxes.
I believe the minimum wage should be higher, maybe not $2.97 an hour, but probably more than $9.30.