Check out what this organization is doing! Bike rides across the country with builds in between. Affordable housing is a global, national, community issue and needs all of us working together. We are excited that Hillary Rizk will be riding with Bike and Build and designating her support to ARM. And, pumped that are own group of riders are going across Alabama to focus our efforts in our localities. Cycle of Service is just a four weeks away!
A home is affordable if payments plus taxes and basic utilities does not exceed 30% of a household’s gross income.*
Unfortunately, far too many people in the United States do not have the financial means to rent or own an affordable, durable home.
It’s especially difficult for Extremely Low-Income (ELI) individuals and families.** The National Low Income Housing Coalition reports that 10.3 million individuals and families, or 1 out of 4 rental households in the U.S., fall into this category. Many of these people spend over 50% of their incomes on housing, meaning they have few funds left over for basic nutritional, medical, and educational needs.
People are not earning enough to keep pace with rising costs of living. The federal minimum wage has stagnated at $7.25 since 2009. To afford the national fair market rent for a one-bedroom apartment ($806/month), an individual would need to work 86 hours at minimum wage.
Many families are relegated to homes that are inexpensive but considered physically inadequate. These may lack hot water, electricity, or plumbing. It includes units with structural deficiencies, like unsafe stairs or surfaces, handicap inaccessibility, poor insulation, and damaged roofs. Often, these homes also suffer from overcrowding, where the number of people living in the house is greater than the total number of rooms in the house. This impacts millions of homes, among both renters and homeowners.
* Definition provided by US Department of Housing and Urban Development (HUD)
** A household is considered ELI if their income is at or below 30% of the median income in their area.
For the full post and page: https://bikeandbuild.org/why-we-ride/the-affordable-housing-cause/
Thanks Hillary and to all of our riders joining us for Cycle of Service!