Arizona is the second worst state for providing affordable housing available for our lowest income families and seniors.
According to a recent report by the National Low Income Housing Coalition, The Shrinking Supply of Affordable Housing, Arizona has only 20 affordable units available for every 100 extremely low income renters. That's below the national average of 30 affordable units available for every 100 extremely low income renters.
Nevada is the only state doing a worse job providing affordable housing for its poorest renters. Our similar foreclosure crises are wrecking havoc not only on homeowners but also trickling down to renters most in need.
Some of the affordable units are occupied by higher income renters, many who recently lost their homes to foreclosure. Other reasons these affordable units may not be available are that some may be in poor condition, or too far from jobs and public transportation.
One consequence of this housing mismatch is that the vast majority of extremely low inome households spend excessive portions of their limited income on rent and utility costs, leaving little, if any, to spend back into the economy. These households are also the most vulnerable to becoming homeless if their income goes down or they have unexpected expenses.
This report counters the perception that the foreclosure crisis and plunging home values have resolved the shortage of affordable housing in Arizona. In fact, the supply of affordable housing for our lowest income renters has actually shrunk.
