Blog
Blog
New Report Highlights Shortage of Affordable and Available Rental Homes
In March, the National Low Income Housing Coalition (NLIHC) released a report that revealed a shortage of seven million affordable and available rental homes for extremely low-income renters.
Extremely low-income households earn 30 percent or below the area median income, and an affordable rent amount is considered no more than 30 percent of household income going towards housing.
The report breaks down its findings by state. Below are a few key points from the data specific to Texas.
- Statewide, there is a shortage of 594,631 affordable units for extremely low-income households. Stated another way, there are only 29 available and affordable units for every 100 of these households.
- Among large metro areas, San Antonio has 31 affordable units available for every 100 extremely low-income households; Austin has 21; Dallas has 20; and Houston has 19.
- 89% of extremely low-income households have a cost burden (pay more than 30% of income on housing), and 74% have a severe cost burden (pay more than 50% of their income on housing).
The report concludes by offering ways to increase housing availability for the lowest-income households. Recommendations include maintaining the national Housing Trust Fund, using Housing Choice Vouchers, improving the Low Income Housing Tax Credit program, implementing a renters’ tax credit for low-income renters, and preserving the existing supply of affordable homes.
TSAHC and Housing for Extremely Low-Income Households
Late last year, TSAHC’s Board of Directors committed $995,000 to the construction of the AHA! at Briarcliff apartments in Central East Austin. Our financial commitment was made possible thanks to investments from Austin Community Foundation’s FundATX and Texas Capital Bank. The development will include 11 units for extremely low-income households.
Additionally, TSAHC and LISC San Antonio are co-hosting a series of trainings for nonprofit developers, service providers and others interested in developing and implementing a successful Permanent Supportive Housing (PSH) program.
Rental units at PSH developments are primarily for extremely low-income households. The first PSH training took place in Austin on March 25th, and there are plans to take the training around the state later in the year. Stay tuned for details.
On the House blog posts are meant to provide general information on various housing-related issues, research and programs. We are not liable for any errors or inaccuracies in the information provided by blog sources. Furthermore, this blog is not legal advice and should not be used as a substitute for legal advice from a licensed professional attorney.
Subscribe to Our Newsletter
Sign up to have TSAHC news & updates delivered to your inbox.