Downsizing to a one-bedroom will only get you so far on minimum wage. We don't compare the minimum wage with the average cost of a car, we don't compare the minimum wage with the average family food budget either. The Housing Wage for a two-bedroom apartment is $13.96 higher than the federal minimum wage of $7.25, and $4.83 higher than the average hourly wage of $16.38 earned by renters nationwide. When was that Golden Age when apartments were cheap enough for someone on minimum wage? Those for the minimum wage are here, those for rental costs are here (the second table).

Source: Forbes June 10, 2017 16:18 UTC