Before we can solve a problem, we have to define it. The term "affordable housing" has taken on much broader meaning in recent years. Not that long ago, "affordable housing" was near synonymous with "subsidized housing" or "low-income housing." Today however, the term is applied across most income groups, and now it may even be more strongly associated middle and upper-middle class families working in high price areas such as San Francisco where tech employees earning $200,000/yr are living in rental trucks parked on the street. Notwithstanding, the nature of the problems and the specifics of the solutions differ dramatically depending on where you focus.

Our primary focus is on the Extremely Low Income ("ELI") renter - those households below either the poverty guideline or 30% of area median income. A March 2018 report by the National Low Income Housing Coalition identified a shortage of more than 7.2 million rental homes affordable and available to ELI renter households nationwide. That means only 35 affordable and available rental homes exist for every 100 ELI renter households. Every state and every major metropolitan area has a shortfall. In Texas, the problem is worse than the national average with only 30 affordable and available rental homes per 100 ELI renter households, and Houston is tied for the fourth most severely challenged major metropolitan area in the country with only 19.

Texas, and the Houston-Galveston corridor in particular, is not only critically supply challenged with respect to ELI-affordable housing, according to this 2017 report, the area also home to one of the largest gaps between the two bedroom fair market rent and the ELI-affordable rent. The combined effect of the supply and affordibility gaps which is forcing many people to live in terrible conditions is the problem we intend to help solve.

 

Obviously this segment is under-served by the for-profit sector, and in far too many cases what constitutes "served" is nothing short of shameful with people forced to live in severely inadequate conditions. To make matters worse, the cost of inadequate housing tends not to be limited simply to rent. For example, factors such as insulation and structural damage can dramatically increase utility bills. In the Houston metropolitan area, 77% of ELI renter households are severely cost burdened spending more than 50% of their income on rent and utilities.

This severe shortage of ELI-affordable homes has left many with no options other than grossly inadaquate, low-quality housing. We think it's deplorable than anyone is forced to live like this because decent affordable housing isn't available. Below are just a few examples of the many we've seen of the unacceptable conditions ELI families have no choice but to endure.

 » Roof leaks and see-through walls.
 » Rotten floors, walls, and ceilings.
 » Water and pest damaged insulation.
 » Structural failures.
 » Electrical and plumbing problems.
 » Rodent and roach infestations.
 » And much worse...

 
 
Imagine what it would be like if you had to live like this. How would it affect your health?
Now imagine your children having to live like this. How would the stress and instability affect their ability to learn and succeed in school?
Now imagine having to spend half your income to live like this. That's the unacceptable reality for many families in every state and in every major metropolitan area in the nation.
 
 


There is no reason why it has to be this way, and we have a bold plan to change things.