Summary
A new report by the National Low Income Housing Coalition shows there is a shortage of affordable rental homes for extremely low-income renters across the entire United States. The study highlights that for every 100 extremely low-income renter households, there are only 35 affordable rental homes available, with Nevada having the lowest supply and South Dakota the highest.
Key Facts
- A study found no state in the U.S. has enough affordable housing for extremely low-income renters.
- The U.S. has a shortage of 7.2 million affordable and available rental homes for these renters.
- Extremely low-income renters include those earning below the federal poverty guideline or 30% of area median income.
- There are about 11 million extremely low-income households in the U.S.
- Nevada has the lowest ratio with just 16 affordable units available per 100 renter households.
- South Dakota has the highest ratio, offering 73 affordable units per 100 renter households.
- The shortage forces renters to spend more, impacting their ability to save and buy homes.
- The overall U.S. renter population has grown to over 45 million by the end of 2024.
