Yahoo! News - Report: U.S. Rentals Unaffordable to Poor
WASHINGTON - Most Americans who rely on just a full-time job earning the federal minimum wage cannot afford the rent and utilities on a one- or two-bedroom apartment, an advocacy group on low-income housing reported Monday.

For a two-bedroom rental alone, the typical worker must earn at least $15.37 an hour — nearly three times the federal minimum wage, the National Low Income Housing Coalition said in its annual "Out of Reach" report.

That figure assumes that a family spends no more than 30 percent of its gross income on rent and utilities — anything more is generally considered unaffordable by the government.

Yet many poor Americans are paying more than they can afford because wage increases haven't kept up with increases in rent and utilities, said Danilo Pelletiere, the coalition's research director.

I can't think of a time in my life when I didn't pay at least half of my take-home towards rent and utilities, even when I was living with a roomate. I'm glad I got (and refinanced) my house, because my mortgage is now a lot cheaper than the average rental cost around here and I can deduct the interest on my taxes. Good deal. I'm one of the lucky ones.