Living Wage

 

What is a living wage?

 A living wage is a wage that allows a person to pay for basic needs, including housing, food, health care, utilities, transportation, and taxes without relying on government assistance programs or charity.’

 

How does Prosper Georgetown calculate the living wage?

Each year, Prosper Georgetown accesses publicly available calculations of the living wage for our community. These calculations are based on a review of current living costs and data released by groups and institutions that study living wages for specific locations, including the Department of Housing and Urban Development, the Economic Policy Institute, and the Massachusetts Institute of Technology. Using these sources, Prosper Georgetown estimates $22.85/ hour as a realistic goal for Georgetown employers to begin moving toward a living wage for their employees. After discussion, a motion was made, seconded, and approved to adopt this living wage rate for 2025-2026. A motion was also made, seconded, and approved for the Prosper Georgetown Board to review and adopt a current living wage rate every two years, beginning in 2027, with a review in January and the adoption at the February Board meeting.

 

Prosper Georgetown is a 501(c) 3 non-profit organization certified under File Number 803442241
by the Office of the Secretary of State for the State of Texas, dated 10/10/2019.