CNCounty News

County News Hot Topics: Housing Affordability

Image of istock_ladderart_a1226ir1590-2.jpg

Key Takeaways

For a growing number of Americans, the cost of housing is crowding out the rest of their household budget. That’s forcing
many families into precarious living situations that affect their safety, their health, the length of their commutes and their chance to build generational wealth or to contribute to a vibrant community where they feel like they have a stake.

In 18% of counties, households must spend more than 3.5 times their annual income to afford a typical home. Nearly a quarter (24%) of households that occupy rental units are severely cost-burdened, spending more than half of their annual income on rent. According to Freddie Mac, there is a shortage of more than 3.8 million homes — both rental and owner-occupied — across the country, and it will take more than 20 years to close the housing unit gap despite the recent acceleration in development, according to the National Association of Realtors. These statistics lend context to a problem that counties know all too well: Housing affordability is increasingly out of reach for residents. 

Articles from this Hot Topic

Related News

Thermal power plant burning coal fossil fuel for production of electrical energy. Kingston power station in Roane County, Tennessee
Advocacy

DOI, DOE and the EPA announce new funding and regulatory measures to support U.S. coal industry

On September 29, the U.S. Departments of the Interior (DOI), Energy (DOE) and the Environmental Protection Agency (EPA) announced coordinated actions to expand domestic coal production and coal-fired energy generation. 

Personal perspective of man filling a glass of filtered water right from the tap in the kitchen at home
Advocacy

U.S. Environmental Protection Agency announces it will uphold 2024 PFAS CERCLA rule

On September 17, the EPA announced that the agency will uphold the 2024 rule designating two types of PFAS as hazardous under the Comprehensive Environmental Response, Compensation, and Liability Act. 

Huge flocks of migrating snow geese take flight at sunrise
Advocacy

DOI announces millions for multiple wetlands conservation programs

On September 18, the U.S. Department of the Interior (DOI) announced $54 million in land acquisitions for waterfowl habitat conservation through a program administered by the Migratory Bird Conservation Commission. The conservation actions add onto an August 4 announcement of $102.9 million in grant-based funding under a separate program administered by the Commission for the conservation of critical wetlands ecosystems and migratory bird habitat through the North American Wetlands Conservation Act.