2024 Out of Reach Report

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For low-income New Mexican families, affordable housing is already Out of Reach.

The National Low Income Housing Coalition just released their 2024 Out of Reach report.

Published annually, the Out of Reach report highlights the gulf between the wages people earn and the price of modest rental housing in every state, county, and metropolitan area in the U.S. This year’s report shows that despite rising wages, cooling inflation, and low unemployment, low-wage workers and other renters with low incomes continue to struggle with the cost of rent. Given the inadequate housing safety net and increasingly unaffordable rents, it is no surprise that homelessness is on the rise. 

Affordable Housing is perhaps that largest barrier to Housing First and ending homelessness. In New Mexico alone, homelessness grew 48% statewide in just one year and in Albuquerque homelessness grew by 83%. With the cost of housing in Albuquerque increasing 20% year over year, these alarming numbers highlight the critical need to invest in affordable housing. Addressing these challenges requires long-term federal, state, and local investments in affordable housing and the Housing First model.

Below is a summary of the findings for New Mexico, if you are interested in reading the entire report and learning more about housing trends nationally or in other states you can do so here: https://nlihc.org/oor



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