Council for the Homeless CEO Sesany Fennie Jones shares her thoughts on the role rent stabilization can have on homelessness
Sesany Fennie Jones, chief executive officer
Council for the Homeless
A challenge as complex as solving homelessness requires engagement across all sectors of our community and implementation of multiple strategies. Some strategies will take a long time to see the impact on people’s daily lives while others can have a more immediate impact. Rent stabilization is a policy limiting how much landlords can raise rent on current tenants, and will immediately benefit renter households struggling to pay for housing in Washington.
Even with some cooperative landlords and property management companies, Clark County has one of the consistently highest per capita eviction rates in Washington.
When people already stretching their household budget to pay high housing costs receive large rent increases, they experience a domino effect. To cover the higher rent, they may be unable to pay utility bills or for repairs on their care needed to get to their job. They fall behind on rent. They are forced to move out, are displaced and struggle to find a more affordable place to live. Studies show that every $100 rent increase leads to at least a 9% increase in homelessness.
According to the 2024 Out of Reach Report, Washington is ranked fifth in the country for highest hourly “housing wage” – the wage necessary to afford rent for a 1-bedroom home has increased 51% in the last five years. The average “fair market rent” for a 2-bedroom in Clark County is $2,024, meaning, in order to afford rent and utilities without paying more than 30% of one’s income for housing, one would need to earn $6,746 monthly.
Rent levels can be whatever the market will bear. Unfortunately, wages are not keeping pace with rental increases. According to U.S. Census Data, in Washington: 47% of renter households received a rent increase of more than $100 in the last 12 months ($1200 per year), 15% of renter households received a rent increase of more than $250 ($3000 per year), Black renter households received higher rent increases than other racial groups, and 57% of renter households with children under the age of 18 received a rent increase of over $100.
Behind facts and figures are human stories. People face tragic and impossible choices when faced with a rent hike. Should they turn off the heat, skip medication doses, or leave the home they can no longer afford, moving away from work, school, family and friends?
Washington needs 1 million new housing units in the next twenty years and approximately 650,000 of those will need to be affordable to low-income households to meet demand. It will take decades for new housing supply to meet demand and have an impact on the cost of housing. Meanwhile, record numbers of families, seniors, Veterans, and people from all walks of life are being displaced, facing eviction, and even becoming homeless because of excessive rent increases.
The rent stabilization policy under consideration by the Washington legislature would limit rent increases to 7%, engaging the private marketplace in helping solve our housing crisis. Despite rhetoric from those opposing rent stabilization, there is a lack of evidence that limiting rent increases would negatively impact new construction. 7% increases are far greater than the rate of inflation and average annual wage increases. The limit would only apply to rental properties more than ten years old, exempting new construction, and only applies to increases on current tenancies, allowing landlords to set the rent at whatever they want for new tenants.
Each one of us is facing rising costs and economic uncertainties. Renters will have one less uncertainty if they have stability and predictability with their rent and our entire community will benefit. Employers will not lose workers who moved because of excessive rent increases. Students will stay in their schools with friends. Neighbors can build lasting relationships. Fewer households will experience homelessness. Enacting rent stabilization will help ensure everyone has a stable place to call home and our community thrives.
Sesany Fennie Jones is chief executive officer of Council for the Homeless, a non-profit organization providing community leadership, compelling advocacy, and practical solutions to prevent and end homelessness in Clark County, Washington.
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