Look up the minimum wage for Seattle, and calculate a person’s monthly earnings assuming a 40 hour work week on minimum wage.
Look up the median annual salary for Seattle.
Look up rental prices for at least 5 specific two-bedroom apartments in this city. Find a range of higher- and lower-priced selections.
2. Analyze: There is a rule of thumb that says that people should pay a maximum of 30% of their gross (pre-tax) wages for housing costs. Use the data you collected to analyze whether a person working full-time minimum wage and a person earning the median salary can afford to live in the city you chose. Here are some suggestions for values to calculate:
The percentage each person must pay of their earnings for the least, middle, and most expensive apartments on your list. Is it below 30%?
The minimum salary a person must make to afford some of the places on your list
3. Report: Create a report that presents your conclusions. Your report must include:
A table or chart that shows all the data you collected, organized however you choose
At least two paragraphs of writing that describe your conclusions. Your writing should include:
In your opinion, is the city you analyzed “affordable” to live in?
At least 4 data calculations that support your conclusion (these can be embedded into your writing or else on a separate calculations page)
Does any of this data surprise you? Or is it something you already knew?
A list of sources you used for this report.