Bleak Picture for ‘Very Low-Income’ Renters
The number of very low-income renters has risen in recent years, at the same time rents are increasing. That’s according to a new report by the National Low Income Housing Coalition, an advocacy group, which found that between 2009 and 2010, the number of “extremely low-income renters” grew by 200,000 nationwide. Extremely low-income renters earn less than 30 percent of their area’s median income, and the report found that for every 100 such families, only 30 affordable units were available for rent. These kinds of renters usually have less than half of their income available after paying for housing, The Wall Street Journal reports.
- Source: Wsj
