Impact 1: Increased Inventory of Housing, Especially Affordable Housing

Spending a high percentage of household income on housing can create financial hardship, especially for lower-income homeowners. With a limited income, high monthly housing costs may not leave enough money for other expenses, such as food, transportation and medical. Moreover, high housing costs reduce the proportion of income a household can allocate to savings each month.

shows the ratio between the average spending among households that spent on homeowner expenses and the median household income in the selected location. This includes spending on mortgage interest, property tax, insurance, and maintenance.

The housing choice voucher program (formally known as Section 8) is a a federal housing assistance program meant to assist very low-income families, the elderly, and the disabled with affording decent, safe, and sanitary housing in the private market. 

The Elder Economic Security Standard Index is a more comprehensive assessment of economic insecurity than the Federal Poverty Level (FPL) guidelines and reflects actual costs at the county level for housing, health care, food, transportation, and other costs in different housing types. More information about how the Index is calculated is available in the UCLA methodology report.

People over age 65 who live alone may be at risk for social isolation, limited access to support, or inadequate assistance in emergency situations. Older adults who do not live alone are most likely to live with a spouse, but they may also live with a child or other relative, a non-relative, or in group quarters. The Commonwealth Fund Commission on the Elderly Living Alone indicated that one third of older Americans live alone, and that one quarter of those living alone live in poverty and report poor health.