There are numerous human and financial factors pertaining to affordable housing. As of the most recent data from the U.S. Census Bureau, over 30 U.S. states, including Florida, California, and Texas – the three largest by population – have at least 5% of adults reporting “Housing Insecurity.” They are not current on rent or mortgage payments and have “slight to no confidence” they’ll be able to pay next month’s rent or mortgage on time.
If we expand this definition to those who believe eviction or foreclosure in the next two months is either very likely or somewhat likely, more than 10 states have adults facing Housing Insecurity exceeding 50% of their populations. The national average is 38.3%. More than one in three adults in the U.S. is not current on rent or mortgage and considers eviction or foreclosure in the next two months likely.
Whether we view sufficient affordable housing as a human right, a commonsense community goal, crime reduction tactic, or a statistically valid instrument for improving tax collections and economies, the solutions are similar: upzoning, lowering barriers to new residential construction, and financial incentives.
Affordable and workforce housing has long been among the Impact themes we focus on at CommonGood Capital – expect to hear more from us soon on this topic.