Our ACTION state fact sheets, showing the impact of the Housing Credit and the affordable housing needs that still remain in every state, have been updated through 2014, reflecting the latest data available.
The data come from the National Council of State Housing Agencies’ 2014 Factbook, with economic impact multipliers from the National Association of Home Builders and data on cost-burdened renters from the 2014 American Community Survey. For the first time, the state fact sheets also use data from the National Low Income Housing Coalition’s 2014 Out of Reach report, showing how many hours a minimum wage worker in each state has to work in order to afford a modest two-bedroom apartment.
Nationwide, the Housing Credit has financed 2.9 million apartments, providing affordable homes to 6.7 million low-income families and supporting 3.25 million jobs. However, 11.4 million households still pay more than half of their income towards rent, and the average minimum wage worker has to work 91 hours per week in order to afford a modest-two bedroom apartment, underscoring the need to expand the Housing Credit.
Our district fact sheets will be updated with 2014 data in the coming weeks.