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Consider these facts:
n Housing affordability is a significant
n A major factor contributing to this
and growing challenge for millions of
“rent squeeze” is the acute shortage
American families who live in housing
of rental homes affordable to families
that exceeds their means. Nearly 20
with the lowest incomes. For every 100
million families spend more than half
extremely low-income families who
their income on housing and more
rent, there are just 29 affordable units
than one-third of all U.S. households,
available in the marketplace, translat-
almost 41 million in total, pay in excess
ing into a total shortfall of more than 8
of 30 percent of their incomes just
million units.4 The production of new
to cover housing costs.1 While our
rental homes that are affordable to
nation’s lowest-income households
those at the lowest end of the income
have been hit the hardest, over the past
spectrum is woefully insufficient.
decade, some of the sharpest increases
in housing cost burdens have been
among moderate-income families.2
n For renter households the affordability
...according to the
Urban Institute,
62 percent of new
housing demand
will be rental
during this decade
(2010-2019).
situation is particularly alarming. The
percentage of cost-burdened renter
households has doubled over the past
50 years. More than 11 million renter
households, constituting 27 percent of
all renters, now pay more than half their
incomes for housing. In addition, 20.6
million renters, or half of the total renter
population, pay in excess of 30 percent.3
These rent burdens are national in scope,
affecting families in rural, suburban, and
inner-city areas. Today, rents continue
to rise in communities throughout the
country, often forcing many lower-income
renters to forego purchasing nutritious
food, seeking medical help when a health
issue arises, or buying clothing and other
essentials for their families.
n Federal rental assistance provides
much-needed help for lower-income
families, but only about one in five
households eligible for assistance actually receives it.5 In many communities,
federal rental assistance is often allocated through w