Home Repairs Are Out of Reach for Many Lower-Income Homeowners – Harvard JCHS
“The financial burden of home repairs can compromise a household’s immediate financial stability and long-term wealth prospects. A study of low-income homeowners found that few had money saved for home maintenance, while other research found that many low-income first-time homebuyers encountered unexpected home repair costs they could not afford. While covering these expenses can cause financial hardship and housing instability, deferring or foregoing necessary projects can have the same effect…
“Amid several proposed reductions in federal housing supports, the draft FY26 House appropriations bill would reduce or eliminate funding for some federal programs that support housing rehabilitation, including the HOME Investment Partnerships Program and the Office of Lead Hazard Control and Healthy Homes, even as the Senate appropriations bill proposes level or greater funding for many federal housing programs. Without action to protect and expand existing funding sources, more lower-income households will be left without the means to fund critical repairs, accelerating deterioration for those least able to absorb its impacts.”