The Gap: A Shortage of Affordable Rental Homes in the U.S.
National Shortage of Affordable Rental Housing
The U.S. has a shortage of 6.8 million rental homes affordable and available to extremely low-income renters, whose household incomes are at or below the poverty guideline or 30% of their area median income. Only 37 affordable and available rental homes exist for every 100 extremely low-income renter households. Extremely low-income renters face a shortage in every state and major metropolitan area, including the District of Columbia. Among states, the supply of affordable and available rental homes ranges from only 20 for every 100 extremely low-income renter households in Nevada to 61 in Mississippi and Wyoming. Among the 50 largest metropolitan areas in the U.S, the supply ranges from 16 affordable and available rental homes for every 100 extremely low-income renter households in Las Vegas, NV to 50 in Providence, RI.