With new ordinance, Santa Fe becomes first city to tie minimum wage to rental costs
(www.abqjournal.com)
australia kinda does it like that… our minimum wage is tied to CPI (which covers much more than just food: also entertainment, rent, transport), and afaik was originally based on living standards
a wage that is fair and reasonable… sufficient to meet the normal needs of an average employee, regarded as a human being living in a civilised community.
in fact, australia invented the concept of a “living wage” in 1907
so it should be exactly that today: enough for an average person to live a decent existence (including entertainment, food, housing, etc)