NLIHC Report: Shortage of 7.2 Million Affordable, Available Homes to ELI Renters

Wednesday, June 13, 2018 - 9:45am

There is a national shortage of 7.2 million available, affordable rental homes to extremely low-income renters in America and no state or major metropolitan area has an adequate supply, according to “Out of Reach 2018,” a report released today by the National Low-Income Housing Coalition (NLIHC). The NLIHC report says that workers earning the federal minimum wage can’t afford a two-bedroom rental home at fair market rent by working a standard 40-hour workweek in any state, metropolitan area or county in America. It also reports that a worker earning the federal minimum wage needs to work approximately 122 hours per week to afford a two-bedroom rental home at the national average fair market rent. The NLIHC report calls for a significant increase in funding for Housing Choice Vouchers, the national Housing Trust Fund, public housing, project-based rental assistance and other federal rental housing programs.