Extremely low-income renters face by far the greatest shortage of affordable & available homes.
Washington, DC - The Gap: A Shortage of Affordable Homes, a new report released today by the National Low Income Housing Coalition (NLIHC), finds a national shortage of seven million affordable and available rental homes for extremely low-income renter households, those with incomes at or below the poverty level or 30% of their area median income (AMI). There are fewer than four affordable and available rental homes for every 10 of the poorest renter households nationwide.
NLIHC conducts this research each year to assess the availability of housing affordable to renters at different income levels throughout the country. In addition to quantifying the shortage of homes affordable and available to extremely low-income households in every state and metro area, this year’s report examines the income sources of extremely low-income renters, racial disparities among these renters, the limited scope of severe housing cost burdens for renters with higher incomes, and the benefits of affordable homes.
The Gap: A Shortage of Affordable Homes shows that extremely low-income renters in the U.S. are much more likely to be severely housing cost-burdened than other income groups. Seventy-one percent of the poorest renter households spend more than half of their incomes on rent, with little left over for other necessities like medical bills, food, and transportation. The shortage results in housing instability and, in worst cases, homelessness.
No state has an adequate supply of affordable and available homes for these renters. The shortage ranges from 66 affordable and available homes for every 100 extremely low-income renter households in Wyoming to 19 affordable and available homes for every 100 of the poorest renter households in Nevada. The shortage is primarily due to the growing gap between earnings and housing costs, as well as the declining federal resources for programs that make homes affordable to the lowest-income people.
NLIHC calls for increased federal investments in deeply income-targeted programs like the national Housing Trust Fund, Housing Choice Vouchers, and public housing, among others.
“The Gap makes clear the urgency and importance of a major federal investment in programs that make homes affordable for the lowest-income seniors, people with disabilities, families with children, and others,” said Diane Yentel, NLIHC president and CEO. “We can end homelessness and housing poverty in our country, once and for all. We have the data, the solutions and, as a country, the resources. We lack only the political will to fund the solutions at the scale necessary.”
For additional information about The Gap, visit: http://nlihc.org/gap
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About National Low Income Housing Coalition (NLIHC): Established in 1974 by Cushing N. Dolbeare, the National Low Income Housing Coalition is dedicated solely to achieving socially just public policy that assures people with the lowest incomes in the United States have affordable and decent homes.