The Partnership for Strong Communities today released its annual report on the state of housing affordability in Connecticut. This fact sheet, Housing in CT 2019, shows that Connecticut ranks among the lowest in the nation when it comes to affordability and housing construction.
The report finds that nearly half of Connecticut's renter population spends over 30% of their income on housing. A quarter of this population spends over 50% of their income on housing, virtually ensuring that these households will not have enough money left over for health care, child care, groceries, and other essential expenses. In 2018, Connecticut had the 9th highest housing costs in the country, with only 38 affordable rental units per 100 extremely low-income households.
The number of housing permits issued in Connecticut has declined precipitously in the last two years. The bulk of the decline comes from multi-family units. In 2017, Connecticut ranked second-to-last in the nation in new housing construction, with a permit issuance rate of 1.3 per 1,000 residents. The lack of new housing supply contributes to high housing costs in Connecticut, as renters and homeowners have fewer options to choose from.
In 2018, a total of 1,098 affordable units were funded by the Connecticut Department of Housing. This number is a 36% decline from 1,716 affordable units in 2017, and 1,838 in 2016. In total, the number of affordable units in Connecticut is declining, due to older units that have become dilapidated or had their affordability restrictions expire.
Click here to download Housing in CT 2019. For questions on Housing in CT 2019, contact us at email@example.com. To stay informed on housing news in Connecticut, sign up for PSC's legislative updates and newsletters here.