Specific reasons vary, but research shows people are homeless because they can’t find housing they can afford. According to the U.S. Department of Housing and Urban Development (HUD), an estimated 12 million renter and homeowner households now pay more then 50 percent of their annual incomes for housing, and a family with one full-time worker earning the minimum wage cannot afford the local fair-market rent for a two-bedroom apartment anywhere in the United States.

HUD also notes that the generally accepted definition of housing affordability is no more than 30 percent of monthly income going toward housing costs. Families or individuals who pay more than 30 percent of their income for housing are considered “cost-burdened” and can have difficulty affording necessities such as food, clothing, transportation, and medical care.

The lack of affordable housing is a significant hardship for low-income households and can prevent them from meeting their other basic needs, such as nutrition and health care, or saving for their future.