According to the logic of liberals, the local minimum wage in San Francisco should be increased to $74.40 per hour

“Affordable” housing is defined by the government as that which does not cost more than 30% of a person’s income.

Source: https://www.census.gov/housing/census/publications/who-can-afford.pdf

In 2019, the average rent for a one bedroom apartment in San Francisco was $3,720 per month.

Source: https://www.cnbc.com/2020/07/01/san-francisco-one-bedroom-rent-price-drops-11point8percent-in-june-zumper.html

If a person works 2,000 hours per year, then according to the math, they would need to earn a minimum of $74.40 per hour in order for the average one-bedroom apartment in San Francisco to considered “affordable.”

Therefore, according to the logic of liberals, the local minimum wage in San Francisco should be increased to $74.40 per hour.

January 21, 2021. Tags: , . Economics.

2 Comments

  1. Paul replied:

    2000 hours per week? Could that possibly be per year, which equates to a 40 hour work week?

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