The High Cost of Housing: A Struggle for Minimum-Wage Earners and Essential Workers in Major US Cities.

A recent study found that 48% of renters in the Austin-Round Rock area spent at least 30% of their monthly income on housing in 2021, with a quarter spending half their paycheck on housing. Another study found that minimum-wage earners in Austin would need to work 147 hours a week to afford a one-bedroom apartment, the highest required annual income for a one-bedroom in any major Texas city. Homebuilder and housing advocate Clark Ivory suggests building more multifamily housing like apartments and duplexes, but rising interest rates and complicated development regulations at the local level pose challenges.