Affordable Housing

The U.S. affordable housing crisis stems from a severe shortage of homes, especially for low income renters, driven by underbuilding since the recession, high demand, rising construction costs, and stagnant wages. This has led to widespread cost burdens, with many households spending over 30 percent of income on housing, contributing to homelessness, impacting economic mobility, and straining local economies. Key issues include a deficit of over 7 million affordable rentals, insufficient rental assistance, local opposition, and rising prices and interest rates, creating a systemic problem felt nationwide.