A new analysis by the Harvard Joint Center for Housing Studies (JCHS), America’s Rental Housing 2017, shows that while rental markets are cooling nationally, conditions remain extremely tight at the low end of the market. According to the report, lower-priced housing is increasingly hard to find not only in high-cost coastal areas but also in many inland areas where rents are generally lower. In 14 of the 50 largest metros, vacancy rates for less expensive units were less than or equal to 5 percent last year, compared to 2006, when only three of the 50 metros had such tight conditions. The tightest market conditions were in San Francisco, Los Angeles, Seattle and Portland, where vacancy rates for less expensive units were under 3 percent. The analysis suggests that because vacancy rates for less expensive units are extremely low, cooling rental markets offer little relief to affordability pressures faced by renters with the lowest incomes.
Published by Oklahoma Coalition for Affordable Housing
The vision of OCAH: That all Oklahomans have the opportunity to live in safe, healthy and affordable homes. Our Mission: To lead the movement to ensure that all residents of the state of Oklahoma flourish in safe, affordable homes and to help communities develop safe and affordable housing options for all of their residents. We reach our mission through advocacy, education and practical training to foster the production and maintenance of affordable housing throughout the state. View all posts by Oklahoma Coalition for Affordable Housing