Our existing housing system fails to provide our nation’s most vulnerable households access to safe, affordable, stable housing. Instead, millions of low-income households pay large portions of their income on rent or live in substandard conditions—triggering chronic economic instability that at best undermines economic security and well-being, and at worst pulls low-income families deeper into poverty. This report examines the current housing landscape specifically for extremely low–income families and offers options for improving housing stability for this population, recognizing that secure housing is a cornerstone of economic well-being.