Rising Rents and Institutional Landlords Fuel Hidden Homelessness in Youngstown

In Youngstown, Ohio, a growing number of residents are experiencing "hidden homelessness," a situation where individuals and families, unable to afford rising rents, are compelled to live in overcrowded conditions or with relatives. Mayor Jamael Tito Brown has attributed this trend to the increasing presence of institutional landlords purchasing multiple properties and significantly raising rental prices.

"Corporations coming in and buying multiple properties, they're raising the monthly rent three times as much," Mayor Brown stated. "Now, we're pushing those individuals into what we call homeless—the homeless and unaccounted for—where now I have to live with my parents or my relatives because I can't afford the rent."

Youngstown's poverty rate is more than double the national average, with over one-third of its residents living below the Federal Poverty Level. This economic hardship, combined with escalating housing costs, has intensified the housing crisis in the city.

The rise of institutional landlords has been a significant factor in this crisis. In 2021, institutional investors accounted for 16% of the home buyer market in Ohio, the sixth-highest rate in the nation. Projections suggest that by 2040, 40-50% of homes could be owned by corporations, potentially reducing homeownership and driving up prices.

The impact of these trends is evident in the increasing number of eviction filings and the strain on local shelters. In 2023, there were 31 unsheltered people in the area and 117 people who were staying in emergency homeless shelters. This represents a significant increase from previous years, indicating a growing crisis.

Local organizations are working to address these challenges. The Youngstown Neighborhood Development Corporation (YNDC) has been assisting homeowners with roof replacements, façade improvements, and other upgrades to stabilize the housing market. Additionally, the city has allocated $13 million in American Rescue Plan Act (ARPA) funds to improve housing for current and future homeowners and landlords.

Despite these efforts, the demand for affordable housing continues to outpace supply. Mayor Brown has called for stronger renter protections, expanded housing vouchers, and enhanced nutrition support to mitigate the crisis. "We want to make sure that our residents have the quality of life that they deserve, not what they can afford," he emphasized.

The situation in Youngstown reflects a broader national trend where rising rents and the proliferation of institutional landlords are contributing to housing instability and hidden homelessness. Addressing this crisis will require a multifaceted approach, including policy reforms, community engagement, and targeted support for vulnerable populations.