A very intriguing and sad analysis of the current state of affairs by the Urban Institute.
A few excerpts:
Not one county in the United States has an even balance between its ELI[Extremely Low Income] households and its affordable and available rental units. As a result, ELI households have to search harder for a place to live, spend more than 30 percent of their income on rent, or live in substandard housing.
Some markets are tighter than others. Of the top 100 U.S. counties in 2012, Suffolk County, Massachusetts, has the smallest gap in units that are affordable and available for ELI households; Cobb County, Georgia, has the largest. But does this mean ELI households in Suffolk County have it easy? The answer is no. Even in Suffolk County, which is home to Boston, only 50 units are affordable and available for every 100 families earning $29,350.
Kudos to Urban Institute for their work to shine light on this problem.
What’s next – the tsunami that has already started of elderly residents in need of affordable housing.