Freddie Mac tracks multifamily rental affordability at the unit level by comparing area median income (AMI) data from the Federal Housing Finance Agency (FHFA) with rent data from the American Community Survey (ACS)i. The basic finding is that population growth is negatively correlated with an area’s ability to preserve affordable housing.
Technological innovation in homebuilding has been a research topic at HUD since the 1970s. Building Even Better Homes: Strategies for Promoting Innovation in Home Building reevaluates the significant findings of Building Better Homes. The report uses history and experience as a guide for what role HUD might play in fostering building technology innovation in the future. The report documents prior efforts and what we learned regarding successes and failures.
Housing affordability was a major issue for nearly every income bracket during 2018 and is likely to be a growing problem for years to come. A supply-driven affordable housing crisis ultimately can only be addressed by more housing supply that is affordable to more people. The 2018 edition of “Paycheck to Paycheck” focuses on the affordability challenges workers face in five job categories in the construction industry.
From Joint Center for Housing Studies of Harvard University: Just as the recent housing downturn was longer and deeper than any other since the Great Depression, the residential construction rebound has been slower. Since reaching bottom in 2011 at just 633,000 new units, additions to the housing stock have grown at an average annual rate of just 10 percent. Despite these steady gains, completions and placements totaled only 1.2 million units last year—the lowest annual production, excluding 2008–2018, going back to 1982.
A worker earning the federal minimum wage of $7.25 per hour in Texas must work 112 hours per week (more than 2 full-time jobs) to afford a two-bedroom rental home.
AGE of Central Texas, a regional nonprofit organization delivering services, education, and assistance to older adults and family caregivers, surveyed residents to better understand the region’s perceptions about aging.