Minimum Wage and What It Buys You: 1950s to Now

Minimum Wage and What It Buys You: 1950s to Now

1980

The beginning of Reagan’s era marked the last in which paying the median rent was semi-feasible on a single minimum-wage income. A minimum wage worker could still pay rent with just under two weeks of work (but that’s still double the ratio that HUD recommends). Of course, if you lived in a more affordable area, you’d be in better shape. In Mississippi, for example, you’d only have to put in 58 hours of work to pay the median rent there.

Minimum wage: $3.10/hour
Gas: $1.25 or 24m
Movie ticket: $2.60 or 50m
Rent: $243 or 78hrs

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