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Affordable Housing 2013

Affordable Housing 2013

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Published by CSGovts
Housing affordability challenges intensified during the Great Recession and since, but those challenges have been building for several decades. Several factors contributed to the decline of affordable housing in the U.S., including stagnant wages, high unemployment, the housing boom and bust, and a shift by consumers to rental housing.
Housing affordability challenges intensified during the Great Recession and since, but those challenges have been building for several decades. Several factors contributed to the decline of affordable housing in the U.S., including stagnant wages, high unemployment, the housing boom and bust, and a shift by consumers to rental housing.

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Published by: CSGovts on Apr 10, 2013
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1
Afordable Housing 2013
I    0  3 
 The Council of State Governments
CAPITOL
RARh
FISCAL
 ThIL  TAT gvRmT
Terms to Know:
•
Cost-burdened:
Spending30percentormoreohouseholdorindividualincomeonhousingcosts.•
Severely cost-burdened:
Spendingmorethan50percentohouseholdorindividualincomeonhousingcosts.•
Extremely low income:
Householdorindividualearning30percentorlessotheareamedianincome.HousingaordabilitychallengesintensifedduringtheGreatRecessionandsince,butthosechallengeshavebeenbuildingorseveraldecades.SeveralactorscontributedtothedeclineoaordablehousingintheU.S.,includingstagnantwages,highunemployment,thehousingboomandbust,andashitbyconsumerstorentalhousing.
Cost-burdened status
•Forty-twomillionhouseholds—37percent—weremoderatelycost-burdenedand20.2millionhouse-holds—18percent—wereseverelycost-burdenedin2011.Overthepastdecade,thenumberose-verelycost-burdenedhouseholdsgrewbynearly7million.
1
•In2011,morethanhaloallrenters—53.4per-cent—and36.9percentohomeownerswithmort-gageswereconsideredcost-burdened.Tenyearsago,40percentorenterswerecost-burdened,whilein1960,25percentwerecost-burdened.•Levelsocostburdenvarybystate.Morethanone-third—36.6percent—orentersarecost-bur-denedinWyoming,asare39.7percentorentersinSouthDakota,thelowestratesoanystate,ollowedcloselybyNorthDakotaat42.6percent.Floridaat60.9percent,Hawaiiat58.9percentandCaliorniaat57.7percenthavethehighestratesocost-burdenedrenters.•NorthDakotahasthesmallestpercentageocost-burdenedmortgagedhomeowners,with19.1percentpaying30percentormoreotheirincomeinhousingcosts.Iowa,at23.7percent,andNebraska,at24.9percent,roundoutthethreestateswiththeleastburdenedhomeowners.•Hawaii,at49.2percent,Caliornia,at49percent,andNewJersey,at47.3percent,topthelistasthemostcost-burdenedstatesorhomeowners.•TheNationalLowIncomeHousingCoalition,anonproftadvocateoraordablehousing,calcu-latestheminimumwagethatmustbeearnedtoaordanaveragetwo-bedroomapartmentatairmarketvalueinstates.
2
·Thatwagerangesromalowo$12.06inNorthDakotaand$12.71inKentuckytoahigho$32.14inHawaiiand$25.78inCaliornia—welloutoreachormanylow-incomehouseholdsandarexceedingminimumwages.·Innostatecananindividualworkingatypical40-hourworkweekattheminimumwageaordatwo-bedroomapartmentorhisorheramily.
Low-income households are hit the hardest by thelack o afordable housing
•Market-driven,unsubsidizedaordablehousinghasessentiallydisappearedorthoseatthebot-tomeconomically.•In2011,76percentothoseconsideredextremelylowincomewereseverelycost-burdened.Forev-ery100extremelylow-incomehouseholds,only30adequatehousingunitswereaordablein2011.
3
 
2
 ThIL  TAT gvRmT
•AmericansreceivingSupplementalSecurityIncome—low-incomepeoplewhoareolderthan65orareblindordisabled—arealsohithardbyalackoaordablehousing.In2013,theederalmaximummonthlypaymentanSSIrecipientcouldreceivewas$710.
4
Evenirecipientsspent100percentotheirSSIincomeonhousing,theystillcouldnotaordastudioapartmentinatleast18states.
5
While those in the lowest income brackets continueto be most afected by the shortage in afordablehousing, those in the middle-income brackets alsoare being squeezed.
6
•Morethantwooutothreehouseholdswithincomeslessthan$15,000annuallyspentmorethanhaltheirincomeonrentin2010—rom61.2percentohouseholdsinthatrangein2001to68percentin2010.•Thenumberohouseholdsthatwereseverelyburdenedinthenextincomerange—$15,000-$29,999—jumpedby65.1percentrom2001to2010,landingat30percentohouseholdsinthatincomebracketwhowereseverelyburdened.•Thenumberoseverelyburdenedhouseholdswithincomeso$30,000to$44,999annuallyhasincreasedby75.9percentsince2001,hitting12.1percentohouseholdsinthatrangein2010.•Thenumberothoseconsideredtobeinthe“middleincome”bracket—$45,000to$74,999an-nually—thatmovedintotheseverecost-burdenedcategoryrom2001to2010nearlydoubled,with2.7percentothosehouseholdsallingintothatcategoryin2001and5.1percentin2010.•Whilethebiggestpercentageshitsintothese-verelycost-burdenedwereseenatthemiddlein-comelevelsrom2001to2010,thelargestnumberohouseholdsthatwereseverelycost-burdenedin2010inabsolutetermsremainedatthebottom:10.5millionhouseholdsinthelessthan$15,000rangeand5.8millioninthe$15,000to$29,999range,comparedto2.2millionhouseholdsinthe$30,000to$44,999rangeand1.3millioninthe$45,000to$74,999range.
Afordability problems have impacts beyond thehousing market.
•AccordingtoasurveybytheUrbanLandInstitute,55percentolargecompanies—thosewith100employeesormore—reportedalackoaordablehousingneartheirlocation.Othosecompaniesrecognizingalackoaordablehous-ingnearby,67percentsaidthisshortagehasanegativeimpactonretainingentry-andmid-levelemployees.•Whenamiliesliveinhousingthatisunaordable,theyotendonothaveenoughmoneyorotheressentiallivingexpenses.In2010,severelycost-burdenedhouseholdswithchildreninthebottomexpenditurequartile,onaverage,hadonly$619tospendonlivingexpensesaterhousingcosts.Thatmeanstheyspent40percentlessonood,50percentlessonclothesandhealthcare,and30percentlessoninsuranceandpensionsthanamilieslivinginmoreaordablehousing.
7
Unless otherwise noted, gures are author’s calculations of data from the 2011 U.S. CensusBureau American Community Survey, 1-Year Estimates.
http://www.census.gov/acs/www/ 
1
Joint Center for Housing Studies at Harvard University. “The State of the Nation’s Housing 2012.”
http://www.jchs.harvard.edu/research/state_nations_housing
 
2
National Low Income Housing Coalition. “Out of Reach 2012.”
http://nlihc.org/oor/2013
3
National Low Income Housing Coalition.
4
Harvard University.
5
National Low Income Housing Coalition.
6
Harvard University.
7
Harvard University.
RSOURCSJennifer Burnett, CSG Program Manager, Research Services and Special Projects jburnett@csg.org

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