D.C. affordable housing dwindles as rents skyrocket across city
The median rent for a one-bedroom apartment in the District of Columbia has gone up nearly 50 percent since 2000 while the number of low-income units has nearly halved, a stinging report from the D.C. Fiscal Policy Institute says.
According to the report, the price for a one-bedroom unit in the District, which sat at $735 in 2000, jumped to $1,100 by 2010, a 49.7 percent increase. Meanwhile, the number of low-income units fell from more than 70,000 to 34,500.
A low-income apartment is defined as one that has rental and utility costs of less than $750 per month.
Perhaps the most staggering statistic the report details is that nearly one in five households in the D.C. area put more than half of their income toward housing. The number goes up to nearly 25 percent when only factoring in renters in the District.
The rapid growth occurred at a time that incomes for most D.C. residents, especially those in the bottom 40 percent of household incomes, has not increased in the past decade. Single people without children and black households are also among the most affected, the report says.
In response to the issues, the Fiscal Policy Institute uses the report to call on D.C. to provide more funding and support for affordable housing throughout the city.