Outlook for Very Low Income Renters Getting Worse
On February 16, 2012, The Huffington Post reported on the release of the National Low Income Housing Coalition’s (NLIHC) recent report, “Housing Spotlight: The Shrinking Supply of Affordable Housing.”
The report highlights the finding that:
- No state in the country has an adequate supply of affordable rental units available; and
- For every 100 households earning less than 1/3 of their region’s median income, there are only 30 affordable and available units.
Quoting the article and the report, “The existence of the gap is not a matter of dispute.”
Exasperating the problem is the trend that with the recent housing crisis, recession and our country’s slow recovery, more and more American households are renting instead of buying homes which further tightens the rental market.
Click here to read the full article.
Click here to read Monarch’s previous post on the recent NLIHC report, which includes the New Jersey perspective.