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Press Release: Report Finds Thousands Living In Affordable Housing Near Transit Could Face Higher Rents

Study by AARP, Reconnecting America and National Housing Trust explores impact of expiration of contracts for federally subsidized units

In the next five years as many as 160,000 renters in 20 metro areas could lose their affordable apartments near transit because the contracts on their privately-owned HUD-subsidized rental units are due to expire. The renewed popularity of urban living means that properties in walkable neighborhoods near transit have increased in value, and that property owners are likely to opt out of the HUD program and convert the housing from affordable to market rate. These are the results of a recent study by AARP, Reconnecting America and the National Housing Trust, which released the results in Washington, DC, on Sept. 30.