Of the nation’s 10.8 million extremely low-income renter households, 70% spend more than half of their incomes on rent and utilities, according to the National Low Income Housing Coalition.
In addition, the National Low Income Housing Coalition found in 2021 that every state did not have an adequate supply of affordable housing available for this population.
In light of this, UnitedHealth Group and UnitedHealthcare have made a series of investments to help close the gap. Most recently, they invested an additional $100,000,000 in the Health & Housing Fund, a partnership with Stewards of Affordable Housing for the Future (SAHF) and National Affordable Housing Trust (NAHT).
The announcement brings total investments in affordable housing to nearly $800 million, resulting in the creation of nearly 19,000 homes for individuals and families struggling with housing insecurity. More than 1,000 of which will be a direct result of the new investment.
“The need for affordable housing and the connection between housing and health continues to be top of mind throughout the communities we serve,” said Tim Spilker, chief executive officer, UnitedHealthcare Community & State. “Our work to address social determinants and help to create new affordable housing opportunities that include support services is driving better health outcomes for some of the nation’s most underserved populations.”
Construction of these housing properties is already underway in:
- East Point, Ga.
- Monroe, N.C.
- Beaverton, Ore.
The affordable housing communities will provide in total nearly 1,000 homes for older adults and families. Additional affordable housing locations will be announced in the coming months as development proposals are finalized.
Additionally, a $1 million grant to SAHF and its partners was provided to support on-site health-related services for residents in those communities, as well as support SAHF’s work to measure, analyze and report on property residents’ health outcomes.
“Our partnership with UnitedHealth Group is having a positive impact, helping provide new healthy, affordable homes in communities where a persistent need exists for affordable housing,” said Andrea Ponsor, president and chief executive officer, SAHF. “This additional $100 million investment clearly demonstrates UnitedHealth Group’s continued focus and leadership on improving health outcomes through investments in quality, service-enriched housing.”
Research shows that 80% of an individual’s health is determined by what happens outside of a doctor’s office. If you don’t have a safe place to stay, it is impossible to feel secure or manage your overall well-being. These long-term investments mean a lot more than housing – they impact the health and well being of people and the communities they live in.