FACT SHEET: State, local, and Tribal governments are using Fiscal Recovery Funds to keep families in their homes and build more affordable housing
The pandemic dramatically underscored the severity and consequences of the shortage of affordable housing in the United States, and new reporting shows how state, local, and Tribal governments are using American Rescue Plan State and Local Fiscal Recovery Funds to support more families’ access to stable, quality, affordable housing. Researchers estimate that the United States faces a shortage of 3.8 million housing units, driving prices up and straining families’ finances, with severe shortages of affordable rental units for low-income households. Even before the pandemic, nearly half of renters spent more than 30 percent of their income on housing, with substantially higher rates among low-income households and people of color. Data for 2020, collected just before the pandemic began, showed an increase in homelessness for the fourth year in a row. The pandemic exacerbated this challenge, as millions of households fell behind on their rent and surging home prices put homeo...