Affordable Housing Brief | November 2018

CBRE Affordable Housing Research Brief

Opportunity Funds: A New Source For Funding Workforce Housing

Since the end of the recession, demand for affordable, accessible rental housing has far outpaced supply. As the affordability crisis grew, federal, state and local programs focused on those with the greatest need, households earning less than 60% of Area Median Income (AMI), especially the extremely low income (ELI) and very low income (VLI) households. But as market rate rent in the U.S. grew 38.5% between 2010 and 2017, workforce renters, those earning between 60% and 120% of AMI, increasingly became unable to find or afford an apartment. Earning too much to qualify for subsidized housing and not enough to afford today’s rents, where does the middle-income wage earner find rental housing?

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