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HousingInCT2014 Report: Housing Still Expensive, Rental Demand Rose, Homelessness Declined

Partnership for Strong Communities
 

Connecticut remained one of the most expensive states to buy or rent a home last year and the demand for rental housing increased significantly, according to HousingInCT2014, the Partnership for Strong Communities' (PSC) annual gauge of the state's housing conditions.

Strong support from the Malloy administration and General Assembly, coupled with an organized effort by housing providers and advocates, produced measurable reductions in veterans and chronic homelessness.

But a huge number of renting households -- 124,000, or 28% of all renters -- subsisted dangerously close to the edge of homelessness, earning less than half the state's median income and spending more than 50% of that meager income on homelessness.

"We could not have made the progress we've made without the resources devoted by Gov. Malloy and the Legislature," said PSC Executive Director Alicia Woodsby. "But many problems still must be solved. Too many people are still homeless. Housing is too expensive, and there is simply not enough supply."

The HousingInCT2014 report, based on Census Bureau figures and other regional and national data, indicated that Connecticut is more than 90,000 housing units short of the number required to affordably house low-income residents earning 30% of median income or less.

The state has the 6th highest median monthly housing costs in the nation and the 8th highest median home values, according to the Census Bureau’s recently-released American Community Survey.  Other highlights of the report:

  • There was a 10% decrease in those experiencing chronic homelessness, down to 2,695 people in 2013 compared to 3,006 in 2012.
  • People in 11,026 households experienced homelessness in 2013, a 4% decline from 2012. 
  • 34% of all households rented in 2013, up from 30% in 2007.
  • Homelessness among veterans declined by 6%, dropping from 1,064 veterans in 2012 to 1,001 in 2013. 
  • Connecticut’s “housing wage” – what one must earn to afford a typical 2-bedroom apartment in the state – fell to $23.02/hour from $23.22, but remained the 8th highest in the nation.
  • The Department of Housing reported more affordable units available in the state – up to 167,504, or 11.26% of all homes, in 2013 from 161,379 or 10.85% in 2012 – but the number of municipalities where at least 10% of the housing stock was affordable stayed stuck at 31 of the total 169.

Click here to read HousingInCT2014: Latest Measures of Affordability.

Click here for to read HousingInCT2014: Highlights and Key Facts.

 
 

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