NLIHC’s Housing Spotlight: The Affordable Rental Housing Gap Persists, released on August 25, shows that the supply of affordable housing is insufficient across all states and major metropolitan areas. This edition of Housing Spotlight used 2012 American Community Survey data to show that there was a deficit of 7.1 million rental units affordable and available to extremely low income (ELI) households, those with income at or below 30% of area median income (AMI). This translates to just 31 affordable and available units per 100 ELI renters. ELI renters made up 25% of the total renter population, but just 7% of all rental units were affordable and available to this population.
For the first time, this Housing Spotlight includes data on the shortage of rental housing for households with income at or below 15% of AMI. This group is called Deeply Low Income (DLI) for the purposes of this report. They are most often elderly or disabled households living on fixed incomes, such as Supplemental Security Income (SSI). There were four million DLI renter households nationwide. Of the 2.3 million rental units affordable to this income group, 1.6 million housed higher income households. This resulted in a shortage of more than three million affordable and available rental units. There were just 16 affordable and available units per 100 DLI renters. As a result, 90% of DLI renters were severely housing cost burdened, spending more than half of their income on rent and utilities.
Housing Spotlight provides state-level analyses, and for the first time this year, an analysis of the 50 metropolitan areas with the largest renter populations. The availability of affordable housing ranged from just 15 units per 100 ELI renters in Nevada, up to 54 units per 100 ELI renters in South Dakota. No state had a sufficient supply of affordable rental housing. Similarly, none of the 50 metro areas had more than 44 affordable and available units for every 100 ELI renter households. The Las Vegas-Henderson-Paradise metro area in Nevada had the greatest need, with just 12 affordable and available units per 100 ELI renter households.
“The housing crisis pushed higher wage earners into the rental market, causing rent increases and a surge in the development of luxury apartments, making it nearly impossible for extremely low income households to find housing that is truly affordable to them,” said NLIHC President Sheila Crowley in a media release. “The way to close the gap in rental housing affordable and available to all segments of the extremely low income population,” she continued, “is to fully fund the National Housing Trust Fund.”
The report is at http://nlihc.org/article/housing-spotlight-volume-4-issue-1
The media release is at http://nlihc.org/press/releases/5013