A recent study conducted by the Department of Housing and Urban Development (HUD) has found that “The number of very poor unsubsidized families struggling to pay their monthly rent and who may also be living in substandard housing increased between 2013 and 2015” according to reporting by Affordable Housing Finance.
The new data shows that the number of households with worst-case needs has risen to 8.3 million from 7.72 million in 2013 and is drawing close to 2011’s record 8.48 million. Secretary Carson released a statement in conjunction with the findings where we he made the point that “After years of trying to keep up with rising rents, it’s time we take a more holistic look at how government at every level, working with the private market and others, can ease the pressure being felt by too many un-assisted renters.” Notably, he made the case that the affordable housing crisis is more, not less, reason to “reduce the regulatory barriers so the private markets can produce more housing for more families.”
As HUD points out, housing demand is growing across the country. New research commissioned by NMHC and conducted by Hoyt Advisory Services supports that finding and lays out market trends in 50 metro centers throughout the United States.