Jessica Schreindl

January 8, 2025

The stark contrast between Supplemental Security Income and rent prices highlights the urgent need for affordable housing.

The green line shows HUD’s Fair Market Rents (FMR) for the past 12 years in the private rental market in the Seattle-Bellevue metro area. The teal line shows the maximum an individual can receive in a monthly SSI payment. (Data source: HUD Office of Policy Development & Research and Social Security Administration.).

A report released last week by the U.S. Department of Housing and Urban Development (HUD) reveals a troubling 18.1% increase in homelessness nationwide in 2024. The data is even more alarming for Washington state, where the number of individuals experiencing chronic homelessness surged by 56% (an additional 4,295 people) between 2023 and 2024.