Affordable housing is one of the key building blocks of financially secure and independent families. Those who spend more than 30% of their monthly income on housing are considered “housing burdened,” and 8.5 million even spend more than 50% of their monthly income on housing. Unfortunately, just 1 in 4 families eligible to receive housing assistance actually do.
What happens to the rest? This great video from the Urban Institute shows that when families are unable to secure affordable housing, they lose out in investing their income in wealth building activities, including pursuing education, moving toward home ownership, or saving for retirement.
The video makes it clear that our current housing policy isn’t doing enough for families who need housing assistance. In fact, take a moment to use the Urban Institute’s interactive map to find how many affordable housing units there are in your county for every 100 low-income families.