Affordable Housing: Lowest Income Households Most Exposed in Supply Shortage via Property Management Insider

The number of renter households grows and multifamily construction continues to be robust, but the lack of designated affordable housing remains a pressing issue for the multifamily industry. Strong absorption of market-rate apartments continues to place pressure on households that must rely on affordable housing. More specifically, latest data from the American Housing Survey indicate households with extremely low incomes (30% of area median income and less) are feeling the most stress, as this group has grown faster than the supply of designated affordable product entering the market and higher income households have more choices in terms of location and product class in local apartment markets.

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