Central Iowa has a housing gap that is eating up more than half the earnings of some families, according to a report from the Polk County Housing Trust Fund in partnership with the National Low-Income Housing Coalition.

The report shows that for families of four with annual incomes of $25,500, rent costs 50 cents for every dollar they earn. 

“This crushing financial burden leaves little left for necessities such as food, transportation and health care,” Eric Burmeister, executive director of the Polk County Housing Trust Fund, said in a release.

“The number of households falling into this category grows each year. The trend points to future difficulties in sustaining Central Iowa’s economic growth unless we work quickly and decisively to provide housing options that match the incomes of the jobs employers have and are planning to add.” 

A shortage of affordable apartments is creating the rent burden, according to the report. 

“The Gap: A Shortage of Affordable Homes” was released at a time when Greater Des Moines developers and apartment owners are looking for renters for an oversupply of multifamily units. Vacancies in Des Moines and the western suburbs approach 10 percent this quarter, according to a recent report from CBRE|Hubbell Commercial. That oversupply is tempering rent increases.

In Central Iowa, for every 100 households needing affordable housing, there are only 40 affordable and available rentals.

In order to close the gap, an additional 11,848 homes would be required. 

“This obviously needs to be a top priority for state and local governments,” according to Burmeister. 

Nationally, only 4 million affordable and available rental homes exist for the 11 million extremely low-income renters, leaving a shortage of 7 million.