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Annual Harvard Report Highlights High Number of Cost-Burdened, Low-Income Renters
More than 80% of renters earning less than $25,000 were cost-burdened (spending more than 30% of their income on housing) in 2019, highlighting housing challenges that the COVID-19 pandemic amplified in 2020, according to The State of the Nation’s Housing 2021. The annual report from the Joint Center for Housing Studies at Harvard University focuses on rising home prices, but also points out the high rate of cost-burdened renters and addresses the racial and ethnic disparities in homeownership. The report’s authors say that the Biden administration’s proposal to increase federal spending on affordable housing would address many of the nation’s housing issues.
State updated on affordable housing policy, as well as other community development issues, with the Novogradac Journal of Tax Credits.