Rents Surge and Homelessness Soars as Housing Assistance Declines
Rents have surged and homelessness is at record heights, but fewer of the poorest tenants are getting housing assistance — in stark contrast to growth in other safety net programs.
The Decline of Housing Assistance
As the safety net has expanded over the past generation, the food stamp rolls have doubled, Medicaid enrollment has tripled and payments from the earned-income tax credit have nearly quadrupled. But one major form of aid has grown more scarce.
After decades of rising rents, housing assistance for the poorest tenants has fallen to the lowest level in nearly a quarter-century. The three main federal programs for the neediest renters — public housing, Section 8, and Housing Choice Vouchers — serve 287,000 fewer households than they did at their peak in 2004, a new analysis shows. That is a 6 percent drop, while the number of eligible households without aid grew by about a quarter, to 15 million.
“We’re not just treading water — we’re falling further behind,” said Chris Herbert, the managing director of the Harvard Joint Center for Housing Studies, which prepared the analysis at the request of The New York Times. “That was an eye-opener, even for me.”
The Low-Income Housing Tax Credit
In an exception to the trend of falling aid, the Low-Income Housing Tax Credit helped build several million subsidized apartments, but most are not affordable to the neediest renters without additional aid.
Conclusion
With rents soaring and homelessness reaching record levels, the decline in housing assistance for the poorest tenants is a concerning trend. While safety net programs like food stamps and Medicaid have expanded, housing assistance has fallen to its lowest level in nearly 25 years. The three main federal programs for the neediest renters have seen a 6 percent drop in households served since 2004, while the number of eligible households without aid has increased by about a quarter. This growing disparity highlights the urgent need for increased investment in affordable housing and support for those in need.
Although the Low-Income Housing Tax Credit has helped build subsidized apartments, most of them remain unaffordable to the neediest renters without additional aid. This further exacerbates the housing crisis faced by low-income individuals and families.
Addressing the housing affordability crisis requires a comprehensive approach that includes increasing funding for housing assistance programs, expanding the availability of affordable housing units, and implementing policies to protect tenants from skyrocketing rents. Without immediate action, the gap between the demand for affordable housing and the available resources will continue to widen, leaving more vulnerable individuals and families without a stable place to call home.
