New Census Bureau data show that for the first time since 2015 more than half of all renter households have reported struggling to pay their housing costs.
HUD Secretary Marcia L. Fudge sat down with Enterprise's Jacqueline Waggoner to discuss ways in which she and others in the Biden administration are working to improve lives by increasing the affordable housing supply.
Many renters in the U.S. face significant barriers to buying homes and building wealth. That’s because renters are seven times more likely than homeowners to have no credit score. Rent reporting – the monthly reporting of tenant rent payments to at least one of the major consumer credit bureaus for inclusion on a traditional consumer credit report – is a strategy that can help renters build the credit they need for stable financial growth.
In 2021, as the nation was still grappling with the effects of the Covid-19 pandemic, millions of American renters were facing another challenge – increasingly unaffordable housing. According to our latest analysis of data from the U.S. Census Bureau’s American Community Survey (ACS), the number and share of renters that year reporting rental housing cost burdens rose across all subsets of renters by race/ethnicity and incomes, with the largest increases observed among renters of color and those with extremely low incomes.
A little-known provision within the Quality Housing and Work Responsibility Act - the Earned Income Disallowance - is undergoing a makeover and HUD is expected to unveil a replacement later this year that could help low-income residents of public housing.
On June 9, the House Financial Services Committee held a hearing titled “Universal Vouchers: Ending Homelessness and Expanding Economic Opportunity in America.” The hearing focused on several recently introduced articles of legislation that seek to expand Housing Choice Vouchers.
The Build Back Better Act includes proposed investments that would improve the prospects for mobility from poverty for millions of Americans by providing them with housing choice and equitable access to wealth-building .opportunities.