Tuesday, March 21, 2023
The Property Reporter
  • Home
  • News
  • Retail
  • Residential
  • Office
  • Industrial
  • Hotel
  • Buying a Home
  • Selling a Home
No Result
View All Result
  • Home
  • News
  • Retail
  • Residential
  • Office
  • Industrial
  • Hotel
  • Buying a Home
  • Selling a Home
No Result
View All Result
The Property Reporter
No Result
View All Result
Home Residential

Affordable housing out of reach for many in Alabama, report finds

PrR by PrR
2022-07-30
in Residential
0
Affordable housing out of reach for many in Alabama, report finds
20
SHARES
152
VIEWS
Share on FacebookShare on Twitter


As costs of living go up with rising inflation, affordable housing remains out of reach for many in Alabama, according to a report by the National Low Income Housing Coalition.

An Alabamian earning minimum wage at $7.25 an hour would need to work a 90-hour week to afford a 2-bedroom apartment or would need to work 74 hours a week to afford a modest one-bedroom apartment, according to the group’s 2022 Out of Reach report.

“Alabama needs more affordable rental housing stock available for low-income renters, or we’ll see a rise in the unhoused population,” said Dr. Russell Bennett, executive director of the Low Income Housing Coalition of Alabama.

Nationwide rent increased by nearly 18 percent between the first quarters of 2021 and 2022. Meanwhile the price of food and gas and other basic costs have gone up as well.

The Low-Income Housing Coalition of Alabama is advocating Alabama invest $25 million from its American Rescue Plan funds into the state’s previously unfunded Housing Trust Fund to help address the challenge.

“Many renters have had to make difficult decisions about their budgets, sacrificing childcare, medical care, and food to maintain housing,” the Alabama group said in a press release.

Housing in Alabama remains more affordable than the national average, according to the report.

A renter would need to earn $25.82 an hour on average to pay for a modest two-bedroom home in the U.S. In Alabama, a renter would need to earn $16.31 an hour for a similar place.

“Decades of chronic underfunding for housing assistance have resulted in a housing-lottery system, where only 25 percent of eligible households receive the housing assistance they need,” said National Low Income Housing Coalition President and CEO Diane Yentel in a press release.

To address homelessness and poverty, the group advocates for funding Housing Choice Vouchers, the national housing trust fund and public housing.

“We lack only the political will to fund solutions at the scale necessary,” said Yentel.



Source link

Previous Post

East Midlands tops boom for shed building

Next Post

Primary to whittle down packed field for Kahului seat on council | News, Sports, Jobs

Next Post
Primary to whittle down packed field for Kahului seat on council | News, Sports, Jobs

Primary to whittle down packed field for Kahului seat on council | News, Sports, Jobs

RECOMMENDED

2023 Real Estate Market Forecast: What Homebuyers and Sellers Can Expect

2023 Real Estate Market Forecast: What Homebuyers and Sellers Can Expect

2023-03-17
The Growing Demand for E-Commerce Warehouses: An Opportunity for Industrial

The Growing Demand for E-Commerce Warehouses: An Opportunity for Industrial Real Estate

2023-03-17

MOST VIEWED

  • Fox Lake hopes to bring hotel to Mineola lakefront site; ‘Recognizing our unique position on the Chain O’ Lakes is a key driver for our progress’ – Chicago Tribune

    Fox Lake hopes to bring hotel to Mineola lakefront site; ‘Recognizing our unique position on the Chain O’ Lakes is a key driver for our progress’ – Chicago Tribune

    755 shares
    Share 302 Tweet 189
  • Doubling Down With the Derricos’ Deon boasts about ‘buying up blocks’ & promotes real estate business after foreclosure

    193 shares
    Share 77 Tweet 48
  • Historic home on 32-acre site annexed into Elgin for new industrial development free to anyone who wants to move it

    157 shares
    Share 63 Tweet 39
  • Plas Glynllifon’s new owner speaks for first time on difficult challenge to renovate mansion

    119 shares
    Share 48 Tweet 30
  • Atlanta developer plans downtown Dallas towers

    94 shares
    Share 38 Tweet 24

Recent Posts

  • 2023 Real Estate Market Forecast: What Homebuyers and Sellers Can Expect
  • The Growing Demand for E-Commerce Warehouses: An Opportunity for Industrial Real Estate
  • Hybrid Work: The Future of Office Spaces
  • Real Estate Investing in 2023: Predictions and Trends
  • The Future of Retail: Technology’s Impact on the Shopping Experience

CATEGORY

  • Buying a Home
  • Hotel
  • Industrial
  • News
  • Office
  • Residential
  • Retail
  • Selling a Home
  • Privacy & Policy
  • About Us
  • Contact Us
  • Advertise with us

© 2021 Copyright Property Reporter

No Result
View All Result
  • Home
  • News
  • Retail
  • Residential
  • Office
  • Industrial
  • Hotel
  • Buying a Home
  • Selling a Home

© 2021 Copyright Property Reporter