Affordable Housing, Community Development, Homelessness, Reports and Publications

Report Charts Rising Rents, Stagnant Wages, and Dwindling Assistance

Center for Budget and Policy Priorities (CBPP)
 

A recent study conducted by the Center for Budget and Policy Priorities (CBPP) found that while rents have increased, wages have not, making it increasingly difficult for low-income families to afford housing. During the recessions of 2001 and 2007, renter incomes fell dramatically and the number of renters increased as families foreclosed on their homes. As the demand for rental units increased, rental costs soared.

Reductions in rental assistance since 2010 have only compounded this problem. The reductions in rental assistance are the result of the Budget Control Act (BCA) of 2011, which placed firm caps on anything unrelated to defense programs. If these caps remain, the CBPP estimates that housing assistance could dip to levels not seen since 1980.

To avoid increased hardships for low-income families and increased rates of homelessness, the CBPP recommends raising the BCA caps and expanding funding for vouchers, tax credits, and other innovative programs to assist these families.

Click here to view the full report. 

 
 

Filter News By