Skip to main content

New Report Details Affordable Housing Voids

Phil Hall
Mar 08, 2017
The continued evaporation of affordable housing opportunities was highlighted in a new report published by the National Low Income Housing Coalition (NLIHC)

The continued evaporation of affordable housing opportunities was highlighted in a new report published by the National Low Income Housing Coalition (NLIHC).
 
According to “The GAP: A Shortage of Affordable Homes,” there is a shortage of 7.4 million affordable and available rental homes for extremely low income (ELI) renter households—those whose income is less than either the poverty guideline or 30 percent of their area median income, whichever is higher. The NLIHC report found that 71 percent of ELI renter households are severely-cost burdened, spending more than half of their income on housing. However, only 35 affordable and available rental homes exist for every 100 ELI renter households.
 
Among the states, there are 15 affordable and available homes for every 100 ELI renter households in Nevada. Other states with a severe imbalance between affordable homes and ELI renter households are California (21/100), Arizona (26/100), Oregon (26/100), Colorado (27/100), and Florida (27/100). Alabama has the most affordable housing to ELI renter household ratio at 61/100.
Published
Mar 08, 2017
UWM Adds 'Control Your Price' To 'Game On' Pricing

New program provides 125 basis points in price enhancements for loan orignators.

Industry News
Jan 11, 2023
Rocket Pro TPO Relieves Brokers Of Credit Fee Burden

Will provided free credit reports to brokers if they get their loan closed with the Detroit lender.

Industry News
Jan 10, 2023
Former Employees Sue Rocket Mortgage Over OT Pay

Claim company failed to properly calculate & pay OT for working beyond 40 hours a week.

Operations
Jan 09, 2023
Judge Grants UWM Partial Win In Ultimatum Lawsuit

AML’s declaration that the ultimatum violated antitrust law survived.

Industry News
Jan 04, 2023
A&D Mortgage Launches Temporary Rate Buydowns

Offering 3-2-1 and 2-1 buydown options.

Industry News
Jan 04, 2023
Zillow: 2M Homes No Longer Require A Jumbo Loan

This is the result of FHA's update to the baseline conforming loan limit in high-cost areas topping $1 million.

Industry News
Jan 04, 2023