6.8 million more affordable housing units are needed for extremely low-income families (those earning below the federal poverty level).
580,000+ people are experiencing homelessness on any given night.
70% of all extremely low-income families pay more than half their incomes in rent.
Only 1 in 4 extremely low-income families who need assistance receive it.
In Missouri, there are approximately 44 available rental units per 100 extremely low-income rental households.
There is no state or county where a renter working full-time at minimum wage can afford a two-bedroom apartment.
In the least expensive zip codes in the St. Louis metro area, a wage of at least $16.24 per hour would be needed to rent such an apartment.
Why does it matter? Housing is the key to reducing intergenerational poverty and increasing economic mobility. Increasing access to affordable housing bolsters economic growth. Stanford University economist Ray Chetty found that children moving to neighborhoods with lower levels of poverty saw their earnings as adults increase by approximately 31%. They were also more likely to thrive in school.
As Catholics and Christians, we can advocate for policies that improve access to affordable housing, which, in turn, will improve quality of life throughout our region for everyone.