NLIHC Reports 7 Million Gap of Homes for ELI Renters

Thursday, March 14, 2019 - 9:15am

There is a national shortage of 7 million affordable, available rental homes for extremely low-income renters, according to an annual study by the National Low Income Housing Coalition. The report, The Gap: A Shortage of Affordable Homes, reports that extremely low-income (ELI) renters (those earning 30 percent or less of the area median income or at poverty level) are more likely to be extremely cost-burdened than any other group, with 71 percent of those in that group spending more than half of their income on rent. The report calls for increased federal investment in deeply income-targeted programs, such as the Housing Trust Fund and the low-income housing tax credit, including a 50 percent basis boost in tax credits for developments that set aside at least 20 percent of their housing for extremely low-income renters.