By Shaun-Dae Clark and Olivia Barrow
The ACTION Campaign’s state fact sheets, which show the impact of the Housing Credit and the affordable housing needs that still remain in every state, have been updated through 2015 to reflect the latest data available.
The data come from the National Council of State Housing Agencies’ 2015 Factbook, with economic impact multipliers from the National Association of Home Builders and data on cost-burdened renters from the 2015 American Community Survey. The fact sheets also use data from the National Low Income Housing Coalition’s 2015 Out of Reach report, showing how many hours a minimum wage worker has to work in order to afford a modest one-bedroom apartment.
Nationwide, the Housing Credit has financed 3 million apartments, providing affordable homes to 7 million low-income families and supporting 3.4 million jobs. However, 11.1 million households still pay more than half of their income towards rent, and the average minimum wage worker has to work 112 hours per week in order to afford a modest-two bedroom apartment, underscoring the need to expand the Housing Credit.
The ACTION Campaign’s district fact sheets will be updated with 2015 data in the coming weeks.