Rapidly Growing Metros Are Losing Affordable Housing at Alarming Rates
The fastest growing cities in the United States saw a substantial decline in affordable housing units from 2010 to 2017, according to new research released today by Freddie Mac (OTCQB: FMCC) Multifamily. With an average population growth of more than 15%, the 10 fastest growing metros of the Top 50 metros in the nation saw the number of units affordable to very low-income residents decline by more than a third. The average loss in very low-income affordable units was limited to about half that amount across all metro areas nationwide where population growth averaged just over 5%, according to the report.
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