Report: Louisiana’s Affordable Housing Supply Is Insufficient
NEW ORLEANS – The Gap: A Shortage of Affordable Homes, a new report released today by the National Low Income Housing Coalition and HousingNOLA, finds that in Louisiana, the affordable housing supply is less than half of what is actually needed. According to the report, there are more than 200,000 extremely low-income households but less than 100,000 affordable rental homes available to them. The result is only 49 affordable and available rental homes for every 100 households with extremely low incomes (in LA that’s $25,570 for a family of four). Approximately 66% of Louisiana renters with extremely low incomes are severely cost burdened and at risk of homelessness. Every year, The Gap reports on the severe shortage of affordable rental homes available to extremely low-income families and individuals.
“At a time when housing is as critical as the COVID vaccines, this report reminds us that after we get through COVID, we still need to guarantee housing for the people of New Orleans to thrive,” says Andreanecia Morris, HousingNOLA executive director. “We should use every resource to #PutHousingFirst to respond to COVID, hurricanes and the everyday challenges our fellow New Orleanians face.“
The report also finds a national shortage of nearly seven million affordable and available rental homes for extremely low-income renter households, those with incomes at or below the poverty level or 30% of their area median income. There are just 37 affordable and available rental homes for every 100 ELI renter households nationwide. Seventy percent of the poorest renter households are severely housing cost-burdened, spending more than half of their incomes on housing, with little left over for other basic necessities. The report shows that even before COVID-19 devastated many low-income households, they were already struggling to afford their rent.
For additional information, visit: https://nlihc.org/gap