NLIHC: 7.4 Million Unit Affordable Housing Shortage

Thursday, March 2, 2017 - 2:45PM

The National Low Income Housing Coalition (NLIHC) today released its annual report on the availability of affordable rental housing for extremely low-income households and other income groups. The report, “The Gap: A Shortage of Affordable Homes,” found that the United States has a shortage of 7.4 million affordable and available rental homes for extremely low-income renter households and that 71 percent of extremely low-income renters spend more than half of their income on rent and utilities. To address the shortage, NLIHC suggested improvements to the low-income housing tax credit (LIHTC), such as income averaging to encourage a greater mix of incomes in LIHTC developments and a 50 percent basis boost in tax credits for developments that set aside 20 percent of units for extremely low-income households.

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