March 30, 2016

Poor spending far too much on housing

Take Part- Millions of poor Americans are living in housing that they can’t afford. The National Low-Income Housing Coalition states that about three-quarters of them are spending more than half their incomes on rent and utilities, a much greater share than what experts say should go to housing to ensure financial stability. People generally shouldn’t spend more than 30 percent of their income on rent, according to Fortune.

The report says that the problem stems from a drastic shortage of cheap and available rental units for extremely poor renters across all cities.

Researchers claim that nationwide just 31 affordable rental units are available for every 100 extremely low-income households, with 20 states having even fewer available spaces. Nevada has the least amount of affordable rental units available for low-income residents, with only 17 rentals for every 100 extremely poor households. Other states with scarce housing options for low-income tenants include Alaska, Arizona, California, Florida, and Oregon.

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