Lack of Affordable Housing:
In a detailed analysis of the US rental market, the National Low-Income Housing Coalition concluded that our country is experiencing a significant and prolonged shortage of affordable housing.
- 1.7 million housing units are needed to fill the gap in affordable housing for extremely low-income households.
- A full-time worker earning minimum wage cannot afford a one-bedroom unit priced at the Fair Market Rent anywhere in the United States. Nationally, a full-time worker must earn $17.32 per hour to afford a two-bedroom apartment at Fair Market Rent.
One in seven US households – 37.3 million – has severe housing cost burdens. Most of these households (78%) are in the bottom quarter of the income distribution (earning $23,000 or less annually).
Federal support for low-income housing has fallen 49% from 1980-2003.
- The average wait for public housing is twenty months. The average wait for a Section 8 Voucher is thirty-five months.
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