Yup, though realistically, probably not too many people on minimum wage are living alone in a 1br. There probably aren't that many people on minimum wage, period, especially 7.25.

The biggest problem here isn't the income, though, it's the rising cost of housing due to anti-housing policies. Some of them explicit (e.g. zoning), some of them unfortunate side effects (e.g. extensive environmental reviews making all large construction projects take a really long time).