Nationwide, there is a shortage of some 7 million rental homes that are affordable to the lowest income households, according to an annual report released in October by the Public and Affordable Housing Research Corporation and the National Low Income Housing Coalition.

By 2031 that number could be closer to 8 million, as rent restrictions expire on some 745,000 homes where, because of federal programs, tenants pay less than market rent. That means landlords would be able to rent the homes at market rates, putting them out of reach for many low-income families, according to the report.