Search Results
Journal Article
Patterns and Trends of Housing Affordability in Texas
In the aftermath of the Great Recession, it is critical to reexamine the definition of what is affordable to a homebuyer and how the measures of housing affordability play out for average households in Texas and the United States.
Report
Resilience and Recovery: Insights from the July 2022 Eastern Kentucky Flood
Because of its topography, location, and coal mining legacy, eastern Kentucky has a long history of flooding. This report focuses on housing in the 13 counties declared federal disaster areas after the July 2022 flood.
Discussion Paper
Declines in Low-Cost Rented Housing Units in Eight Large Southeastern Cities
From the last quarter of 2012 to the last quarter of 2015, median rents rose 23.4 percent in the South, according to the Census Bureau. Accordingly, an increasing number of households in the South are cost-burdened, which is defined as a household spending more than 30 percent of its income on housing. A growing number of households spend over 50 percent of their income on rent, making them severely cost-burdened. The percentage of such severely cost-burdened households with incomes below $35,000 reached 80 percent in 2014 in eight central cities in the Southeast (Atlanta, Birmingham, ...
Speech
Home Truths: Changing the Conversation on Housing
Speech to 2024 National Interagency Community Reinvestment Conference, Portland, OR, March 6, 2024, by Mary C. Daly, President and Chief Executive Officer, Federal Reserve Bank of San Francisco.
Report
Inflation Remains a Burden and Consumer Debt is on the Rise
The Federal Reserve Bank of Cleveland’s Community Issues Survey (CIS) collects information semiannually from direct service providers to monitor economic conditions and identify issues impacting low- and moderate-income (LMI) households in the Fourth District—a region that includes Ohio, western Pennsylvania, eastern Kentucky, and the northern panhandle of West Virginia. In March 2023, we surveyed more than 600 service providers who directly serve LMI individuals and communities across our District and received 95 responses (15 percent response rate). The results of this survey, ...
Journal Article
Texas’ cheap housing edge slipping away as resilient demand outpaces supply
Housing affordability has declined in Texas, a top destination for domestic and international migrants drawn by its historically low cost of living.
Discussion Paper
Developing Inclusive Communities: Challenges and Opportunities for Mixed-Income Housing
Over the past decade, housing costs have risen faster than incomes. The need for affordable rental housing has well outpaced the number of available units as well as funding allocations at the federal level. Local regulation and land use policies that increase the cost of subsidized, mixed-income housing construction and preservation have contributed to the affordability problem. {{p}} To meet the affordable housing needs in U.S. communities, innovation, creativity, and "out of the box" thinking may be required, particularly as it relates to reducing the rapidly increasing costs of ...
Working Paper
Do Low-Income Rental Housing Programs Complement Each Other? Evidence from Ohio
We characterize rental subsidy use in units developed with construction subsidies and explore whether the subsidy overlap responds to needs unmet by a tenant-based program alone. We present a subsidy allocation model allowing for program complementarity to guide our analysis of multiple subsidy use in Low Income Housing Tax Credit (LIHTC) units. Findings for Ohio in 2011 suggest that rental assistance in LIHTC exhibits some degree of subsidy complementarity, particularly, when serving very poor households with special housing needs. We also find that very low income voucher holders who face a ...
Discussion Paper
Can Community Development Improve Health? Emerging Opportunities for Collaboration between the Health and Community Development Sectors
The two sectors of community development and health have long worked in the same neighborhoods, but they have not always worked together. This is starting to change, due in part to a growing recognition among health experts of the social, economic, and environmental factors that drive health outcomes. These social determinants of health have become the basis for new collaborations between community development and health professionals. This paper introduces professionals in both sectors to this emerging area of practice through a series of case studies of innovators in the southeastern United ...
Report
Home Lending Trends from Select Counties in Kentucky, Ohio, and Pennsylvania: 2018–2022
This series of reports examines home mortgages and refinances from 2018 through 2022, a period of great change. The reports look at seven large counties in Kentucky, Ohio, and Pennsylvania: Allegheny County, Pennsylvania (Pittsburgh); Cuyahoga County, Ohio (Cleveland); Fayette County, Kentucky (Lexington); Franklin County, Ohio (Columbus); Hamilton County, Ohio (Cincinnati); Lucas County, Ohio (Toledo); and Montgomery County, Ohio (Dayton).