1.Collect data:
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.
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.
Is the city you analyzed “affordable” to live in?
At least 4 data calculations that support your conclusion
Does any of this data surprise you? Or is it something you already knew?
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