In the days before an expected release by HUD of the proposed formula to allocate any housing trust fund allocation (presuming such a fund is authorized by Congress and signed into law), the NLIHC has done a new summary of renter housing affordability through 2008, including an analysis of affordable AND available units. This summary uses American Community Survey data. Take aways from the summary HERE:
The number of all renter households in the United States increased by 2.4% between 2007 and 2008, but the number of extremely low income renter households increased by 3.5%.
During the same period, the supply of all rental homes increased by 2.2%, but the supply of rental homes affordable for extremely low income families decreased by 1.8%.
Households with extremely low incomes continue to be the only income group facing an absolute shortage of affordable rental housing.
Looking at the number of rental homes that are both affordable and available to the lowest income households, the picture is even worse. (Many of the homes that extremely low income families could afford are occupied by higher income people.) For every 100 extremely low income renter households, there were 39 rental housing units affordable and available for them in 2007. By 2008, the number of affordable and available units had declined to 37. A scarcity of housing that the poorest families can afford is the principle cause of homelessness in the United States. [NOTE: My 2005 summary, using a different data source [American Housing Survey] had put the number of affordable and available units at 35 out of 100 extremely low income renters].
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