New Report: Shortage of 7 Million Apartments for the Nations Lowest-Income Renters

New Report Published Today: Shortage of 7 Million Apartments for the Nation’s Lowest-Income Renters

NLIHC released its annual report, The Gap: A Shortage of Affordable Homes, which finds a shortage of seven million affordable and available rental homes for extremely low-income renters, those with household incomes at or below the poverty level or 30% of their area median income. The report calls for increasing investments in housing solutions for the lowest-income people such as the national Housing Trust Fund, Housing Choice Vouchers, and public housing; protecting the existing supply of affordable homes; expanding and improving the Low Income Housing Tax Credit so it serves more of the lowest-income families; and implementing a renters’ tax credit that targets low-income renters.

This year’s report finds fewer than four rental homes affordable and available for every 10 extremely low-income renter households nationwide. No state or major metropolitan areas has an adequate supply of rental housing for the poorest renters. As a result of this shortage of affordable homes, 71% of extremely low-income renter households are severely housing cost-burdened, spending more than half of their limited incomes on housing. They account for nearly 73% of all severely cost-burdened renters in the U.S.
Severely Cost-Burdened Renters by Income, 2017
The vast majority of extremely low-income renters are seniors, people with disabilities, or people who are working, enrolled in school, or caring for a young child or for a household member with a disability. Twenty-six percent of extremely low-income renter households are seniors, 22% are a householder with a disability, and 39% are in in the labor force. The wages of those who are working are often too low to afford rent without assistance.

The full report and interactive map are available at: https://reports.nlihc.org/gap

Click Here to Read The Gap Report

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