Annual “Gap Report” Shows Deepened Housing Unaffordability Nationwide

The National Low Income Housing Coalition published their annual report "The Gap: A Shortage of Affordable Homes" on June 27. The report details a shortfall of more than 7 million housing units for the lowest income renters in America, resulting in severe cost burdens for nearly three-quarters of renters with extremely low incomes. Severe cost burdens mean households spend more than half their income on rent, leaving little left over for food, medicine, and other necessities.

The report also outlines how many affordable homes are available in each state for every 100 extremely low income renter households, with the most severe shortfalls occurring in Nevada, Arizona, California, Alaska, Florida, and Texas. Nationwide, there are just 34 affordable and available homes on average for every 100 renter households with extremely low incomes.

The report goes on to underscore the need for more rental assistance and housing development investment, two key LeadingAge priorities.