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“2020 Picture of Preservation”

A Joint Report by PAHRC and NLIHC

Crystal Wojciechowski, PHADA Policy Analyst

The Public and Affordable Housing Research Corporation (PAHRC) and the National Low Income Housing Coalition (NLIHC) recently released a joint report entitled “2020 Picture of Preservation.” Federally assisted affordable housing provides stability for 4.9 million low-income renter households, but the need for affordable rental homes still far outweighs the supply. The report notes that the United States faces a shortage of approximately seven million affordable rental homes for the lowest-income households; fewer than four affordable rental homes are available to every 10 extremely low- income renter households.

This shortage could increase further as federally assisted homes become unaffordable or uninhabitable. There are several challenges to preserving today’s limited supply of federally assisted housing, including affordability “exits,” depreciation, uncertain and inconsistent federal appropriations. The Department of Housing and Urban Development (HUD) estimates that over the past ten years, for every three affordable units built, two have been lost.

 

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