Like most people think, working full-time should be enough to afford a place to live. However, a new housing affordability report shows that this is no longer true for millions of Americans. According to the National Low Income Housing Coalition’s Out of Reach 2025 report, there is not a single U.S. state where a minimum-wage worker can afford a modest two-bedroom apartment while keeping housing costs within 30% of their income.

The report uses what it calls a “Housing Wage,” meaning the hourly pay needed to afford rent. Nationally, that figure is $33.63 per hour for a two-bedroom home and $28.17 for a one-bedroom. When compared to the federal minimum wage of $7.25, which has stayed unchanged since 2009, the gap becomes extreme. On average, a minimum-wage worker would need about 116 hours per week—almost three full-time jobs—to afford a two-bedroom rental at fair market rent.

Even in states and cities that have raised minimum wages above the federal level, the problem remains. Local increases still fall short of actual housing costs. The issue also extends beyond minimum-wage earners, since nearly half of all U.S. workers make less than what is required to afford a basic one-bedroom apartment, meaning the crisis affects a wide range of jobs, not just the lowest-paid.

As a result, nearly half of renter households are considered cost-burdened, spending more than 30% of their income on housing, with millions spending over half. While rents have slightly eased in some areas, experts say the gap between wages and housing costs is still too large for small changes to make a real difference.