There are more than 10 million extremely-low-income renter households in the United States but only 3.2 million rental homes that are available and affordable to them. As a consequence, 75 percent of extremely-low-income renter households spend more than half of their income on housing.21 Over the last two decades, rent inflation has outpaced overall inflation and housing prices. This is especially true at the bottom end of the market, where supply is dwindling.
