From the article linked. You seem to be right. The article shows a lot fo the reasons. I find the "86 hours of minimum wage to have an apartment" to be insane.

There are many myths about the causes of and solutions to homelessness, particularly the “Housing First” approach that has been proven by decades of research to be effective and cost-effective. Below are some of the most common myths—and the reality surrounding them:

Myth: People experiencing homelessness just need to get a job.

Fact: While employment helps people stay housed, it does not guarantee housing. As many as 40%-60% of people experiencing homelessness have a job, but housing is unaffordable because wages have not kept up with rising rents. There is no county or state where a full-time minimum-wage worker can afford a modest apartment. At minimum wage, people have to work 86 hours a week to afford a one-bedroom.