Report
Affordability and Availability of Rental Housing in the Third Federal Reserve District: 2015
Abstract: In the aftermath of the foreclosure crisis and subsequent tightening of mortgage credit, many households have turned to the rental housing market, increasing pressure on an already limited supply of low-cost units. Using the most recent data available, this issue of Cascade Focus analyzes trends in rental housing affordability in the Third Federal Reserve District between 2007 and 2012. In addition to examining rates of housing cost burden for low-income renter households, this analysis evaluates whether the supply of affordable rental units is sufficient to meet the need. Lastly, this report presents a series of in-depth fact sheets for the Third District, Pennsylvania, New Jersey, Delaware, and 14 metropolitan areas within these three states, as well as the City of Philadelphia. Note: Estimates from reports published by the department in 2010, 2011, and 2012 should not be compared with estimates in this analysis because of the differences in geographic areas covered, data sets used, and methodologies employed.
Keywords: foreclosures; rental housing; housing;
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Provider: Federal Reserve Bank of Philadelphia
Part of Series: Cascade Focus
Publication Date: 2015-02
Order Number: 4