Homelessness in the U.S. hit the highest level on record this year as the affordable housing crisis intensifies, federal regulators said Friday. The Department of Housing and Urban Development (HUD) tallied more than 770,000 people experiencing homelessness on a single night in January, an 18 percent increase from 2023 that is likely an undercount. Families with children experiencing homelessness jumped 39 percent, the largest increase on record, according to HUD data. Nearly 150,000 children were experiencing homelessness, a 33 percent increase from 2023. Veterans were the only population where homelessness continued to decline, down 8 percent from 2023. The number of veterans experiencing homelessness has fallen 55 percent since HUD started collecting data on veteran homelessness in 2009. Black people continue to be overrepresented among the homeless population: around 32 percent of people experiencing homelessness are Black despite making up only 12 percent of the U.S. population, according to HUD, which also found that the share of homeless people who identify as Black decreased from 37 percent in 2023. The latest surge follows a 12 percent increase in homelessness in 2023 amid rising rents and a decline in pandemic assistance. HUD acting Secretary Adrianne Todman emphasized in a statement that the data was nearly a year old and “no longer reflects the situation we are seeing,” especially as interest and mortgage rates have come down. “No American should face homelessness, and the Biden-Harris Administration is committed to ensuring every family has access to the affordable, safe, and quality housing they deserve,” Todman said, adding that “it is critical that we focus on evidence-based efforts to prevent and end homelessness.” The cost of buying a home hit an all-time high earlier this year, with advocates and policymakers alike citing a steep shortage in housing and even fewer affordable homes. The U.S. housing shortage ballooned to 4.5 million homes in 2022 from 4.3 million in 2021, according to a June report from the real estate marketplace Zillow. The National Low Income Housing Coalition (NLIHC) estimates the U.S. is short 7.3 million homes that are affordable and available to low-income individuals. “Increased homelessness is the tragic, yet predictable, consequence of underinvesting in the resources and protections that help people find and maintain safe, affordable housing,” said Renee Willis, incoming interim CEO of the NLIHC. Local, state and federal leaders have been scrambling to find solutions to the affordable housing crisis, including Low-Income Housing Tax Credits, property tax abatement, commercial-to-residential conversion and inclusionary zoning.