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Updated almost 6 years ago on . Most recent reply

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Cody Gebhart
  • Rental Property Investor
  • Marion, IL
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$15/Hour Illinois minimum wage

Cody Gebhart
  • Rental Property Investor
  • Marion, IL
Posted

Illinois is enacting a statewide minimum wage of $15 per hour by 2025. Have any experienced landlords had this happen in their state or city and what have been the effect on rents? Drastic increases or gradual increases with normal inflation of 2% yearly?

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Anthony Wick
  • Rental Property Investor
  • Ankeny, IA
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Anthony Wick
  • Rental Property Investor
  • Ankeny, IA
Replied

If not for minimum wage, most businesses would pay their employees $2 an hour. To state you're against minimum wage is to state you are against employees rights as well. Take a look at history. Oh, you got your hand caught in machinery and can't work? You're fired. Unions and minimum wage keep people from starving to death. And minimum wage has not kept up with inflation. 

The $15 in 4-5 years is not as big of a deal as people make it out to be. The Target and McDonalds around here are already paying $11-12 per hour. $31,200 a year at $15 an hour. And no, Target, McD's, and Walmart are not barely getting by. To take any of their side is to state "I just want billionaires to have more money". A job has to be more beneficial than staying at home and collecting welfare. 

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