Households are cost-burdened when they spend more than 30% of their income on housing costs (rent plus utilities). Those spending more than 50% are severely cost-burdened.
Affordable housing shortage
Rent and income (2024)
Rent & income
Amount ($)
Median household income
Median renter household income
Median monthly rent
Rent as share of renter income
Income needed to afford median rent
Affordable housing stock
Supply, demand & shortage
Units
Supply (current stock)
Demand (total units needed)
Shortage
total shortage
supply/demand ratio
Availability of affordable rental units per 100 households
The QAP is a document that states, and a few local agencies, must develop in order to distribute federal Low Income Housing Tax Credits (LIHTCs), which can be awarded only to a building that fits the QAP’s priorities and criteria. Each QAP must spell out a housing finance agency’s (HFA’s) priorities and specify the criteria it will use to select projects competing for tax credits. The priorities must be appropriate to local conditions.