As the chartbook explains, the federal government spent $190 billion in 2015 to help Americans buy or rent homes, but little of that spending went to the families who struggle the most to afford housing.
Federal housing expenditures are unbalanced in two respects: they target a disproportionate share of subsidies on higher-income households and they favor home-ownership over renting.
Lower-income renters are far likelier than homeowners or higher-income renters to pay very high shares of their income for housing.
Low-income renters are also far likelier to experience problems such as homelessness, housing instability, and overcrowding.
Federal rental assistance is highly effective at helping these vulnerable families.
But rental assistance programs are deeply underfunded and as a result only reach a fraction of eligible households.
The Chartbook expands on the following issues:
Federal Housing Spending Disproportionately Targets Higher-Income Households
Federal Housing Policy Favors Owning over Renting
Housing Needs Among Renters Are Growing
Poor Renters Have Greatest Need for Housing Assistance
Federal Rental Assistance Helps the Lowest-Income People Afford Housing, but Funding Limitations Keep It from Reaching Most Families in Need
Just one in four low income people in New Jersey in need of assistance, including seniors, people with disabilities, families with children, and veterans, get the help they need. New Jersey’s affordable housing crisis makes these suggested cuts both unconscionable and unacceptable.