The poorest in the US can’t find housing even as low-income units sit empty
Summary
Many poor people in the U.S. cannot find affordable homes, even though thousands of low-income housing units remain empty. Most new affordable housing is for people with higher incomes than the poorest renters, leaving those with the least money with few housing options.Key Facts
- Over 4,500 affordable housing units in Austin, Texas, are empty, about 16% of affordable units there.
- Many poor renters earn too little to afford available units, even cheaper tiny homes without full services.
- The U.S. has about 4 million affordable rental units for 11 million extremely low-income renter households.
- Extremely low-income renters earn below poverty guidelines or 30% of the area's median income.
- Around 75% of these renters spend more than half their income on rent and utilities.
- Low-Income Housing Tax Credit program finances mostly housing for people earning at least 50% of the area's median income.
- In Austin, affordable housing programs commonly serve people earning about $47,000/year, but extremely low-income renters earn under $28,000.
- Experts say the current government affordable housing program may be inefficient and more expensive than alternatives like housing vouchers.
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