Over on real estate blog Candy’s Dirt, Jon Anderson spent some time with a Family Budget Calculator recently updated by the Economic Policy Institute, a think tank. It uses market-specific date to estimate the income necessary for living in various cities not just at the subsistence level of the federal poverty line ($24,250 for a family of four) but at a standard of living that most of us would consider a bare minimum to, as Anderson puts it, “live like a human” with (according to EPI’s guidelines) “structurally safe, and sanitary rental housing of a modest nature with suitable amenities,” “nutritionally adequate diets,” as well as adequate health care coverage and meeting transportation needs.
$5,096 monthly ($61,150) for a two-parent, two-child household
$4,458 monthly ($53,492) for a single-parent, two-child household
You can adjust the calculator to see other household arrangements as well, but the bottom line is that minimum-wage work doesn’t come anywhere near these levels. Even the median household income in Dallas County is just $49,481, with 19.5 percent of people living below the poverty line. Anderson notes:Read More