Housing Market Finally Improves for Country's Poorest Renters

According to an article by Lydia DePillis, the country's poorest renters are finally seeing better prospects for their housing needs. DePillis explains the findings of a report by the U.S. Department of Housing and Urban Development:

"…after more than a decade of housing being out of reach for more and more low-income renters, the number of people with severe housing problems started to ease off between 2011 and 2013, according to the federal department of Housing and Urban Development's (HUD) analysis of those with severe housing needs."

The HUD report counted people with "worst case housing needs." In other words they meet all three of the following criteria: 1) income lower than 50 percent of the area median income, 2) rental costs totaling more than half their income, and 3) no housing subsidies. The article includes some discussion of why fewer people are meeting those criteria.

According to DePillis, HUD is careful to note that the country still has an affordable housing problem, though hopefully this data means the country is turning a corner.