Abstract
While substantial research has studied the effects of government-assisted provision of affordable housing units, little is known about the challenges that arise when the stock of affordable units is increasingly at risk due to the approaching expiration of their low-cost status. This study provides an empirical investigation of how city-level at-risk affordable units, as well as median rent and rent burden, relate to housing inadequacy using data for all cities with population greater than 5000 in the U.S. The results indicate a direct positive relationship between rent burden (relative to income) and housing inadequacy in multilevel models accounting for the county context of these cities. This positive relationship is strongest in counties with large population or high average income. Cities with higher (nominal) median rent have less housing inadequacy, particularly in counties with larger populations. Finally, the presence of more affordable units, as well as more at-risk affordable units, is associated with greater housing inadequacy, calling for more attention not only to the expansion of these units but also to the ways affordable housing stock is managed and preserved. Our findings indicate the importance of policies to reduce both rent burdens and the presence of at-risk units, such as proactive renewal of affordability covenants. Moreover, our findings highlight the need for additional research that addresses how renters and developers respond to incentives created by affordable housing dynamics.