The Affordable Housing Crisis Gets Worse
With renters on the rise, a report from the NYU Furman Center and Capital One shows it’s becoming increasingly difficult to find affordable housing.
The report shows that between 2006 and 2014 the renter population grew faster than rental units in metro areas nationwide. With all that demand, supply has skyrocketed—making it harder to find reasonably priced pads in the 11 largest metro areas in the country, Commercial Property Executive reports.
The report shows DC is the least affordable metro for typical renters, followed by S.F., LA and NYC—while Chicago, Dallas and Houston are the most affordable to the median US renter.
And it doesn't look like multifamily will cool off anytime soon—Carrfour Supportive Housing, a firm that gives support to families looking for affordable housing, says its waiting lists are packed to the brim with folks looking for cheaper digs. [CPE]
