There is a shortage of available and affordable housing for low-income families in every state, but the situation is worse in some states than others. Extremely low-income families — defined as households with incomes at or below either the federal poverty guideline, or 30% of their area median income, whichever is greater — face rates as low as 14 affordable and available homes for every 100 households in some states.
Expert Advice: 7 Worst States To Buy Property in the Next 5 Years, According to Real Estate Agents
Try This: 7 Reasons You Should Consider a Financial Advisor Before Making a Big Investment
While there are still not enough homes to provide rentals for every extremely low-income family in the states with the most available housing, the odds of finding housing are the best in these places, as identified by the National Low Income Housing Coalition.
Also here are the states where you’re most and least likely to live paycheck to paycheck.
South Dakota
- Number of affordable and available rental homes: 57 per 100 extremely low-income renter households
- Extremely low-income renter households: 26,953
- Extremely low-income renter households with severe cost burden: 51%
Check Out: 20 Best Cities Where You Can Buy a House for Under $100K
Learn More: Here’s the Salary Needed to Actually Take Home $100K in Every State
Mississippi
- Number of affordable and available rental homes: 55 per 100 extremely low-income renter households
- Extremely low-income renter households: 108,951
- Extremely low-income renter households with severe cost burden: 65%
Trending Now: States Whose Economies Are Failing vs. States Whose Economies Are Thriving
West Virginia
- Number of affordable and available rental homes: 53 per 100 extremely low-income renter households
- Extremely low-income renter households: 63,660
- Extremely low-income renter households with severe cost burden: 66%
Rhode Island
- Number of affordable and available rental homes: 51 per 100 extremely low-income renter households
- Extremely low-income renter households: 49,468
- Extremely low-income renter households with severe cost burden: 56%
Wyoming
- Number of affordable and available rental homes: 51 per 100 extremely low-income renter households
- Extremely low-income renter households: 18,176
- Extremely low-income renter households with severe cost burden: 63%
Maine
- Number of affordable and available rental homes: 51 per 100 extremely low-income renter households
- Extremely low-income renter households: 36,378
- Extremely low-income renter households with severe cost burden: 63%
Data is sourced from the National Low Income Housing Coalition and is accurate as of 2022.
This article originally appeared on GOBankingRates.com: 6 States With the Most Affordable Housing for Low-Income Families
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
