AS LOW-COST UNITS BECOME INCREASINGLY SCARCE, LOW- AND MODERATE-INCOME RENTERS ARE LOSING ACCESS TO MANY NEIGHBORHOODS

According to the Center’s recently released report, America’s Rental Housing 2022, the loss of low-cost rental units is making it increasingly difficult for low- and moderate- income renters to find affordable housing. Whether due to rising rents, conversions out of the rental stock, or outright demolition, the report tells us that the number of units renting for less than $600 fell by 3.9 million between 2011 and 2019. As the interactive map below shows, declines occurred in every state (Figure 1). While $600 may sound like an unrealistically low rent to some, based on the standard 30 percent of income metric it is the maximum affordable rent level for a household making $24,000 per year or less, which covers nearly 30 percent of all renter households (12.7 million households).