BOISE, Idaho – It is such a prevalent problem that it has become a cliche–millennials can’t afford to buy homes. A report released on Thursday illustrates the continuation of that trend.
The US Government Accountability Office has defined residential affordability as a housing crisis. A joint report from the National Low Income Housing Coalition and the Idaho Asset Building Network shows how that challenge is impacting the Gem State.
The report found that only 42 affordable rental homes are accessible for every 100 modest income households in Idaho. The Housing Coalition defines affordability as a family being able to pay 30 percent or lower of their annual income on housing.
Idaho Asset Building Network Director of Policy and Research Kendra Knighten argued that the problem compounds inequality across the state and makes it harder for families to progress financially.
“Today, 7 out of 10 Idaho renters with modest incomes pay more than half of their incomes on rent, putting these families in very precarious financial situations,” Knighten said.
The housing crisis extends to Washington State, where there is a 170,000 unit housing shortage for extremely low income renters according to Housing Coalition data.
Legislators have attempted to address the crisis by allowing for more mixed use and multiple family housing units, but development has met barriers from city councils who are skeptical of zoning changes which would increase neighborhood density.
