that’s not how that works.
But ok.
That's exactly how housing works. IRL tenants compete with each other based on how much they can spend for their housing and they determine that rate as the residual of whatever is left over after all their other expenses are met. Enabling more people to spend $200 more a month on their housing leads to those rents increasing by the $200.
That's exactly been the effect of the increases in minimum wage in Calif, and it's why the rental rate ranges on the lower end have compressed to the point where the rents in So Central LA (for example) are so close to the rates in the more desireable areas like Downey and Norwalk or in the northern areas of the San Fernando Valley.
Only the haves who own those units units come out ahead. Well, them and the govt which is collecting tax revenues at the higher rates. The poor are still just as cash strapped as they were. It takes them just as many minutes of work to buy a Happy Meal now as it did 5 years ago.
It's also a contributing factor to the increase in the homeless population. People who aren't getting the commensurate raises are getting shut out - they're the ones who are paying for these increases due to the disparate impact on their respective economic leverage.
You will NEVER be able to make the rich pay. These increases will always be passed on directly to the consumers.