Alarming Numbers
A new report from the Washington Department of Commerce has underlined just how tough the affordable housing picture is throughout the state and in Clark County. Among its findings:
• Thirty-six percent of Washington households are cost burdened (spending more than 30 percent of income on housing) and 15.2 percent are severely cost burdened (spending more than 50 percent on housing). In real terms, that’s 936,260 households cost burdened and 390,000 households severely cost burdened.
• Washington state has a deficit of 327,136 “affordable and available” housing units.
• Since 2000, incomes in Washington state have declined by 2.4 percent while median rents have increased 7.8 percent.
• Low-income households are projected to be the fastest-growing population demographic in Washington state in the next five years.