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NLIHC Report: Shortage of 7.3 Million Available, Affordable Rental Homes for Extremely-Low-Income Renters

Thursday, March 14, 2024 - 12:12PM

The United States has a nationwide shortage of 7.3 million available and affordable rental homes for extremely low-income renters, with only 34 such homes available for every 100 such households, according to the "The Gap: A Shortage of Affordable Homes," the annual report released today by the National Low Income Housing Coalition (NLIHC). The report, based on 2022 data, indicates that the shortage of available, affordable homes for extremely low-income households (those with incomes at or below the federal poverty guideline or 30% of area median income, whichever is higher) increased by nearly 500,000 from 2019 to 2022. According to the report, all 50 states and the 50 largest metro areas face shortages of housing for extremely low-income households, with Nevada having the fewest such available homes per 100 renters among all states and the Las Vegas-Henderson area having the fewest such homes among the largest metro areas.

Strategies to address the national affordable housing shortage will be discussed at the Novogradac 2024 Affordable Housing Conference in San Francisco, May 2-3.

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