The report concludes that housing affordability is a major hurdle to housing stability and quality of life, and continues to be a growing problem for more Americans as the supply of affordable housing dwindles and the amount of low-income families grow.
CHESHIRE, Conn. (PRWEB) June 18, 2015
Public and Affordable Housing Research Company (PAHRC), HAI Group’s research division, announced today the release of their second annual research publication, Value of Home – 2015 PAHRC Report. The report brings together the latest data on the need for rental assistance, the added value rental assistance brings to those who receive it, and the impact the presence of assisted housing has on communities. The report’s release will be accompanied by a Twitter Chat on Tuesday, June 23, 2015, moderated by the Urban Institute’s Director of Urban Policy Initiatives and Institute Fellow, Erika Poethig.
The report concludes that housing affordability is a major hurdle to housing stability and quality of life, and continues to be a growing problem for more Americans as the supply of affordable housing dwindles and the amount of low-income families grow. Housing assistance provides a federal subsidy, tax incentive, or mortgage insurance to make housing affordable to low-income families. As seen in the below infographic, “households receiving rental assistance have greater stability, are less likely to experience homelessness, and live in higher quality units less likely to pose health and safety risks than unassisted low-income renters. Assisted renters are also better positioned to invest in their futures through savings and have better access to jobs and amenities through public transportation.”
Many extremely low-income families and communities are in jeopardy as the number of households in poverty is increasingly disproportion to the availability of assisted housing. From 2007 to 2013, there was a 24% growth in the number of households in poverty and only a 3% increase in federally assisted rental units. This mismatch in supply and demand has prevented many income-eligible families from receiving assistance, as evidenced by the 1.64M families on waiting lists for public housing and 2.76M families on waiting lists for Housing Choice Vouchers (HCVs) in 2012.
Currently, housing assistance is targeted toward those that might be more vulnerable to the effects of poverty than average low-income households if unassisted. Assisted families are significantly more likely to include elderly adults, disabled individuals, single parents, or children under 18 than similar-income families who are not assisted. Children represent the largest portion of those assisted, making up 41% of all residents served by public housing and HCVs.
Given these trends, Value of Home – 2015 PAHRC Report concludes that “it is critical that rental assistance be a policy priority. It not only provides a cost-effective way to lift families and children out of poverty, but also improves communities through economic development and revitalization and reductions in costs to other publically funded systems.”
To further this conversation with researchers, educators, and interested parties, the #ValueOfHome Twitter Chat featuring moderator @Erika_Poethig will take place on Tuesday, June 23, 2015, from 4:00 pm to 5:00 pm ET. Participants are invited to discuss research demonstrating the added value housing assistance provides to residents and their communities, the growing need for affordable housing, and innovative ways that housing assistance can serve residents and improve communities. The Twitter Chat will give participants the opportunity to discover new research, ask questions, and share their own work on housing policy.
About the Public and Affordable Housing Research Corporation (PAHRC):
Incorporated in 2011, PAHRC conducts independent research to support the efforts of the public and affordable housing industry and its stakeholders. PAHRC also engages in collaborative research with a number of industry group partners to inform current knowledge about important public and affordable housing questions. In addition to research, PAHRC compiles data relevant to affordable housing issues from a wide variety of primary and secondary sources and makes these data available to affordable housing industry members as well as the general public. For more information, visit http://www.pahrc.org/.
Public and Affordable Housing Research Corporation (PAHRC)
Courtney Rice, 203-272-8220, ext. 253
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