As More Households Rent, the Poorest Face Affordability and Housing Quality Challenges

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As More Households Rent, the Poorest Face Affordability and Housing Quality Challenges

 

Since the 2007–2009 financial crisis, growth in the share of renter households has reversed a decades-long trend toward home-ownership. This change has underscored concerns about the availability, affordability, and condition of rental housing, especially for low-income households. The federal government subsidizes rents for around 4.4 million households per year, but more households qualify for assistance than receive it. GAO was asked to provide a comprehensive assessment of the housing market. This report examines trends in the housing market prior to the COVID-19 pandemic and does not account for the profound impact it will likely have on renter households. This report, one of several GAO plans to issue, focuses on rental housing from 2001 through 2017 and analyzes (1) the share of households that rent, (2) the affordability of rental housing, and (3) rental housing conditions. GAO analyzed American Community Survey and American Housing Survey data from 2001 through 2017 (the most recent data available at the time of this review) at the national level and for different types of localities. GAO also reviewed recent reports by the Department of Housing and Urban Development (HUD), research organizations, and academic researchers on rental housing and obtained views from a variety of stakeholders selected for their knowledge of these issues, including federal agency officials, academic experts, research organizations,

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