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Expanding the Supply of Affordable Housing for Low-Wage Workers

Rising income inequality, combined with high housing costs, and a shortage of affordable rental housing across the nation and particularly in large metropolitan regions, has been creating a significant financial burden for growing numbers of working families, especially those of low-income workers.2 And the COVID-19 pandemic and related shutdowns and layoffs have exacerbated this problem. Lower-wage workers in particular are the most likely to have incurred a loss of income due to the pandemic.3 And as a disproportionate segment of low-income households rent their homes (see Figure 1), many are facing housing insecurity and evictions, as they lack the financial resources to compensate for missed paychecks and as moratoria on evictions and foreclosures are set to expire soon.4 Most importantly, these same families were already struggling before the onset of the pandemic due to a severe shortage of affordable housing throughout the nation.5 In the face of what most likely will be double-digit unemployment lasting through 2021,6 creating jobs by expanding affordable housing would be a smart long-term investment.

Read more here: https://www.americanprogress.org/issues/economy/reports/2020/08/10/488313/expanding-supply-affordable-housing-low-wage-workers/