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Affordable Housing Month 2024

by | May 15, 2024 | General News

image celebrating Martin Luther King Jr. Day

 

The month of May is National Affordable Housing Month – a topic near and dear to the hearts of all of us here at Petra. In fact, developing and managing safe and affordable housing for low and very low-income members of our community is our reason for existing.  

To celebrate National Affordable Housing Month, Petra wants to help raise awareness of the struggle for affordable housing in the U.S. and share some recent statistics with you. 

  

This year’s report from the National Low Income Housing Coalition (NLIHC) shows that, as a national average, the U.S. has a shortage of 7.3 million rental homes available and affordable to those with extremely low incomes.  In Pennsylvania, this number is 265 thousand. To break that down into simple terms, that means that for every 100 extremely low-income renter households, only 41 homes are affordable and available to them, leaving 59% out in the cold. (Source nlihc.org) 

 

The federal government defines housing as “affordable” when it takes up no more than 30% of the total household income. That threshold allows families and individuals to comfortably pay their monthly housing costs while still having funds left over for other necessities, such as food and transportation.  

 

With today’s rising costs in all areas of our economy, a growing share of U.S. households are struggling to find affordable housing. Extremely low-income renters face a housing shortage in every U.S. state and major metropolitan area, and as a result, three-quarters of those renters are heavily burdened by housing costs, spending over half of their income on rent alone.  

 

That is why Petra is so passionate about serving our local community and working with our partners to develop affordable housing for low-income families, seniors, and people with disabilities in our area. We believe that everyone has a right to enjoy safe, well-maintained, affordable housing…in other words, everyone should have a place they call home.  

 

National Affordable Housing Month is the perfect opportunity to become an advocate for affordable housing for everyone. To learn more about who we are and how you can help, visit our news page here, and consider becoming a part of the Petra Community.