Affordable Housing Units Sit Vacant as Poorest Americans Struggle to Afford Rent
Over 4,500 units classified as affordable in Austin, Texas, representing nearly 16% of the city's affordable housing stock, are currently vacant. This issue is not isolated to Austin, with similar trends observed in Denver and Portland, Oregon. The primary reason for these vacancies is that the poorest individuals cannot afford the rents, even for units designated as 'affordable.' A survey of state housing agencies indicates that the majority of recently financed low-income housing targets those earning 50% of an area's median income or higher, rather than the extremely low-income population. For instance, in Austin, a single person earning roughly $47,000 a year qualifies for these units, while an extremely low-income person earning under $28,000 struggles to meet the cost. This disparity means that while there's a severe shortage of housing for the nation's poorest, available 'affordable' units remain empty because their rents are approaching market rates, making them inaccessible to those most in need. 
