The Gap: A Shortage of Affordable Homes, finds a shortage of 7.2 million affordable and available rental homes for extremely low income (ELI) renter households, those with incomes at or below the poverty level or 30% of their area median income. The report calls for increased investments in affordable housing programs for the lowest income households like the National Housing Trust Fund, Housing Choice Vouchers, and public housing, and for expanding and improving the Low Income Housing Tax Credit, so it serves more ELI households.
The study finds there are just 35 affordable and available rental homes for every 100 of the lowest income renter households nationwide. In no state or major metropolitan area is there an adequate supply of affordable rental housing for the lowest income renters. And 71% of the lowest income renters are severely housing cost-burdened, spending more than half of their limited incomes on housing.
This year’s report includes a look at who are the lowest income renters: their demographics, disability and work status, and other characteristics. The vast majority of the lowest income renters are seniors, people with disabilities, or individuals who are working, enrolled in school or caring for a young child or someone with a disability. The wages of those who are working are often too low to afford rent without assistance.
To learn more, visit the National Low Income Housing Coalition: http://nlihc.org/gap