Why Low-Income Tenants Don’t Progress Up the Financial Ladder

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New York, NY—One measure that is often overlooked by affordable housing developers is the lack of financial stepping stones for low-income tenants as they try to move up the ladder and how these deficits can hold them back.

“There is no middle income for most of these affordable housing tenants,” says Heidi Burkhart, president and owner of Dane Real Estate, a New York brokerage firm. “There are no stepping stones from low-income to middle income and we need to provide these individuals with resources because major rent increases, such as going from $600 per month to market rents of $5,000 per month, are not truly fair or affordable,” she tells GlobeSt.com.