Publication Date
9-2014
Committee Members
Elisabeth Hamin, Chair - Mark Tigan, Member
Abstract
In New England alone, 57, 508 privately owned, affordable housing units, otherwise known as project-based Section 8, are at risk of converting to market rate housing by 2017. Even though community-based organizations and active residents, in conjunction with local governments, are utilizing federal and state preservation tools, these units are still at risk due to market pressures and administrative burdens.
With proper policy intervention, expired Section 8 contracts, and future expiring contracts, may sustain a reasonable level of affordability. This study assesses the on-going affordability of recently expired Section 8 units within New England. With a broader definition of affordability, scarce resources can be targeted to the diminishing project-based Section 8 stock and those who need it most - low and extremely low-income individuals and families.