Higher earnings for Illinois workers resulting from a minimum wage increase stand to have impacts on their ability to sustain families and cover expenses. The greatest impact, however, might be in housing affordability. Housing costs, whether in the form of rent or mortgage payments and maintenance costs, make up the largest monthly expense for most households. This report examines what impact a minimum wage increase would have on housing affordability among working households. Minimum wage increases, however, effect more than just housing affordability. This report also explores reductions in reliance on public assistance programs as well as what impact changes to the minimum wage will have on employment levels and on state and local tax revenue.
|Original language||English (US)|
|Publisher||Project for Middle Class Renewal|
|Number of pages||57|
|State||Published - Oct 24 2016|