The Facts Behind the Faces
Updated: Nov 16
LACK OF AFFORDABLE HOUSING
Today, 1 of every 4 renter households, a total of 10.2 million, is an extremely low-income household (ELI), defined as those earning no more than $19,706 annually.1
75% of ELI renters spend over 50% of their income on housing.2
In 2010, there was a need for 6.8 million units that are both affordable and available to ELI households. This figure rose to 7 million in 2012.3
ELI households can afford to spend no more than $493 a month on rent. This year, the national two-bedroom fair market rent (FMR) edged up to $984, and the one-bedroom FMR is $788. This is far above the rent ELI households are able to pay.
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