SEVERE COST BURDEN
$25,750 is the maximum income level to qualify for extremely low income for a family of 4. Over $45,500/yr. is necessary to afford a 2-bedroom rental home at HUD’s Fair Market Rent.
There are over 100,000 renter households in Nevada that are extremely low income, approximately 21% of the market. Rents increased almost 23% in 2021 and there is a shortage of housing for this market of more than 84,000 homes.
81% of extremely low-income households have severe cost burden. This means they are spending 30% or more of their area median income on housing. The number of people spending more than 50% of income for housing, is rising steadily because of massive rent increases.
Renters in this situation are forced to sacrifice basic necessities such as food or health care services to pay rent. They also experience constant, and unstable housing situations such as evictions.
Nationwide, extremely low-income households that have a single caregiver is about 14%. Half work more than 20 hours a week. 30% of extremely low-income households are seniors and 16% are disabled.
With few options to improve their situation, very few are able to climb out of this vicious cycle. Some will eventually end up homeless while others continue the day to day struggle just to keep their head above water.
HOW DOES MY DONATION HELP?
Your donation funds training for this population to create a monthly stimulus for themselves or learn new skills for gig market employment. Everyone from the disabled to the elderly can compete on the level playing field of the digital economy to improve their economic condition.
Your donations helps us to build the infrastructure to move people into temporary housing. There are several options already on the market. Tiny homes, container homes and new innovations in home design, opens the door to new possibilities to build affordable housing on a large scale.
Your donations help pay for prototypes to prove the scalability of our approach and draws attention to the fact that “right now” solutions are available and can be implemented to tackle homelessness.