Rural Housing Survey Shows Broad Economic Impact

NRHC’s Impact Survey shows that in 2012, nonprofit rural housing organizations helped low-income rural families secure over $890 million in financing to build or purchase 8,392 units of housing, and helped 32,819 rural families gain access to clean and affordable water and sewer systems. This led to the creation 20,481 jobs, generated over $596.5 million in local income and $1.58 billion in tax revenue.

 

Click here for a copy of the NRHC 2013 Impact Survey Report.

 

Executive Summary

Today, rural America faces several barriers to clean, decent, and affordable housing. Far too many low-income rural families find that their housing options are simply too expensive, are of poor quality, or are inaccessible. Because of higher, more persistent levels of poverty and limited access to affordable mortgage credit, rural communities often struggle to meet the housing needs of its residents.

In addition, many rural communities have severely limited access to a clean and affordable water supply and are considered to live in “water poverty.”

In response to these unique challenges, nonprofit rural housing organizations have become an increasingly important vehicle to deliver housing assistance and basic community services to our nation’s most vulnerable rural residents. Despite their success, however, there has been too little research on the economic impact of these organizations in terms of jobs created, and incomes and tax revenue generated.

To address this need, the National Rural Housing Coalition surveyed 111 nonprofit rural housing organizations in 45 states on their activity in Fiscal Year (FY) 2012. By aggregating survey responses, this report provides policymakers with a greater understanding of the important economic impact of nonprofit rural housing organizations.

 

Survey Results

The 2012 Impact Survey shows that rural housing organizations:

• Expanded access to homeownership to 6,508 rural families;
• Constructed, acquired, or preserved 1,884 affordable rental housing units, amounting to $289.7 million in federal, state, local, and private financing;
• Helped 32,819 rural families gain access to clean and affordable water and sewer systems, amounting to $106.9 million;
• Directly invested nearly $70.8 million in financing to support affordable homeownership and rental housing in rural communities;
• Provided 24,869 rural families with quality Housing Counseling services, including Pre-purchase/Homebuyer Education courses;
• Aided 3,747 rural housing professionals and 435 rural housing organizations with technical assistance and training; and
• Supported more than 249 local rural housing organizations with $20.5 million in operational and pass-through funds.