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.