It’s hard to believe it’s already August and summer seems to be flying by. Traditionally, summer is thought to be quieter and slower, with more time to relax and disconnect. Every year, a host of different organizations and thought leaders put out “Summer reading lists” for that downtime by the pool and at the beach. This year, I thought I’d put together a briefer version of the typical reading list, sharing a few of the key media and research pieces covering housing from May, June, and July. The articles below dig deeper into the issues the Washington Housing Conservancy’s work seeks to address – housing affordability, economic mobility and rent burden.  

The facts presented in these articles are daunting.  

  • There is an ever-growing gap between wages and rental housing costs. The DMV includes some of the highest costs nationally. DC has the 6th highest housing cost, MD the 11th and VA the 15th. In DC, a renter would have to work 94 hours a week at the minimum wage to afford a 2-bedroom apartment.  
  • The growth of rent burden in the United States reached a record high with 22.7 million renter households (49% of all renters) spending over 30% of their income on housing and utilities.  
  • Middle-income households are increasingly squeezed out of the market, but ineligible for traditional subsidies. Rent burden grew fastest among middle-income households (those earning between $45,000 and $74,999).  
  • “Budget strain for renters, combined with escalating home equity for owners, has pushed the wealth gap between the two groups to its highest level since the data was first collected in 1989.” 

But in the face of these challenges, there are opportunities to change the course for millions of renter households. I hope these articles add to your understanding of the issue and build your resolve to preserve housing affordability and increase upward mobility for the millions of Americans, starting right here in the DMV.  

Preserving housing affordability and promoting economic mobility in the DC-region

The Washington Housing Conservancy is a 501(c)(3) non-profit organization. Your investment helps us expand our work. Your gift is 100% tax-deductible. EIN 83-1866109

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