09 Sep Statement: Supplemental State Budget with $10 million for Extremely Low Income Housing in Massachusetts
Metro Housing|Boston is encouraged that the supplemental budget filed by Governor Baker includes additional funds to build housing for families who have extremely low incomes. Despite the fact that the Massachusetts economy continues to grow and tax revenue continues to flow, many families remain unable to afford a place to live.
Rent burden remains a significant issue for the lowest income households as rents are pushed higher by the booming real estate market. More than 300,000 renters in Massachusetts have extremely low incomes. In metro Boston this means a family of three earning less than $32,000. Seventy six percent of these households pay more than they should for rent. In fact, almost 60% spend more than half of their income on rent and likely have difficulty meeting their other necessities. That imbalance puts an enormous pressure on all aspects of a family’s life, including education and health, as well as the ability to save money for a potential emergency.
Massachusetts must build homes for and support policies that affirmatively assist families with the lowest incomes rather than relying on any trickledown theory. Last week’s announcement by the Baker Administration recognizes the significant crisis impacting those least able to afford rent. Housing production that focuses on the lowest income families is critical, and we applaud the administration for following through on this initial step. As the housing market continues to price out families in need, the Commonwealth must continue with additional commitments with similar urgency and resolve.
About Metro Housing|Boston
Serving more than 25,000 households annually, Metro Housing|Boston is dedicated to mobilizing wide-ranging resources to provide innovative and personalized services that lead families to housing stability, economic security and an improved quality of life. With more than 30 years’ experience piloting and implementing housing programs, it has solidified their position as an industry-leading expert on navigating the affordable housing field. Metro Housing|Boston is committed to making sure that every person in Greater Boston will always have a place to call home. For more information, please visit www.metrohousingboston.org.