DC’s Incredibly Shrinking Affordable Housing Supply

Didn’t get your Washington Post delivered Saturday morning due to Snowmaggedon?

We don’t want you to miss the Post’s coverage of our new report, “Nowhere to Go: As DC Housing Costs Rise, Residents Are Left With Fewer Affordable Housing Options.”

Read the Washington Post coverage of the report.

Our review of Census Bureau data shows that since 2000, rents have grown faster in the District of Columbia than in most major cities and have outpaced the incomes of most DC households. Combined with sharply rising home values and the conversion of many rental units to condominiums, a growing number of DC residents are faced with housing affordability problems.

According to the report:

  • DC’s low-cost rental stock has shrunk by more than one-third since 2000. The number of rental units with rent and utility costs of $750 or less fell from 69,000 in 2000 to 45,000 in 2007.
  • The number of DC homes valued at $250,000 or less fell from 58,000 to 15,000 between 2000 and 2007.
  • Nearly 100,000 DC households–or two of five–spent more than 30 percent of income on housing in 2007, exceeding the federal housing affordability standard.

Read the entire report.