Housing affordability decreasing for low-income renters.

New data released by the Census Bureau’s American Housing Survey reveals that, for low- and extremely-low income renters, finding affordable housing has become more difficult during the recession.  The Center on Budget and Policy Priorities highlights some key findings:

Center on Budget and Policy Priorities/cbpp.org
  • In 2009, 5.6 million households with incomes below the poverty line — or about 60 percent of all poor renter households — paid at least half of their income for rent and basic utilities, according to newly released data from the Census Bureau’s American Housing Survey. That’s a 17 percent (800,000 household) rise since the last survey in 2007 and a whopping 45 percent (1.7 million household) rise since 2003.For a typical family, housing costs consume only about a quarter of household income. The federal government considers housing unaffordable if it costs more than 30 percent of a household’s income.
  • In 2009, roughly 325,000 children lived at least part of the year in a homeless shelter, according to Department of Housing and Urban Development data, an increase of 12 percent since 2007. Two to three times as many children were homeless if you count those living temporarily in hotels or motels, doubled-up with other families, or on the street as well as those in shelters, separate data from the Department of Education suggest.

Click here to read the entire blog from CBPP.

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