Nationwide, over 11 million renter households allocate more than 50% of their income to housing, underscoring the need for innovative solutions that can ease cost burdens and enhance housing stability. Structural barriers— such as limited access to wealth, historical policies, and racial discrimination in the housing market— further deepen this problem. Black renters, for example, are twice as likely as white renters to rely on Housing Choice Vouchers (HCVs), which results in these renters navigating an outdated and complex system that limits their access to affordable housing and exacerbates inequities. The application process itself, often costing between $40 to $100 per submission, places added financial strain on Black renters, who submit more applications on average than white renters. Addressing these systemic inefficiencies is crucial to creating a housing environment that is both equitable and accessible for all renters.
Matrix Rental Solutions is at the forefront of tackling these housing challenges by unlocking greater opportunity for renters through its innovative Universal Residential Rental Application platform. Launched in September 2021, Matrix simplifies the rental process with its “One Application, One Screening, One Fee” approach, streamlining administrative tasks for landlords and public housing authorities, and reducing the complexity that disproportionately affects Black renters. By addressing the root causes of inefficiency and inequity, Matrix is transforming the rental experience for both tenants and landlords.
Matrix’s platform redefines the rental experience by integrating:
- Equitable screening processes: Matrix reimagines tenant screening by including Housing Choice Vouchers as part of rental readiness assessments, automating income verification, and adopting alternative credit models. This approach reduces reliance on traditional credit scores that often disadvantage renters with nontraditional financial histories, ensuring a more equitable process that opens doors to stable housing for communities that were previously underserved.
- A matching engine for supportive housing: The platform’s advanced matching engine ensures that renters—especially those seeking stability or requiring supportive services—are connected to housing options that meet their unique needs. By providing tailored housing solutions, Matrix enhances the chances of finding long-term housing.
- Advanced payment solutions (launching by June 2025): With tools that streamline rent transactions between tenants, private landlords, and housing authorities, Matrix will reduce delays and improve financial transparency, ensuring smoother rental experiences for all parties involved.
Matrix’s innovative platform also delivers tangible benefits to landlords and public housing authorities, including cutting lease-up times by up to 50%, minimizing vacancy costs, and easing administrative burdens.
Matrix demonstrated the platform’s potential through a successful pilot with the Connecticut Housing Department, processing over 2,000 applications. Through this pilot alone, Matrix has successfully helped house hundreds of residents, a significant portion of whom are from Black communities. Matrix’s approach earned the support of the State of Connecticut and over 400 housing providers across the state, having shown success in supporting Housing Choice Voucher holders, individuals at risk of eviction, and those experiencing homelessness.
By addressing systemic inequities in tenant screening, cutting redundant costs, and simplifying processes, Matrix is reshaping the rental market into one that prioritizes equitable access for all individuals and families. As Matrix continues to expand its reach, partnerships with financial institutions, public housing authorities, and policymakers are helping drive systemic change. Matrix is not just transforming the rental process—it is also helping create a housing landscape where affordability, accessibility, and stability are the norm, not the exception.
Valuing Homes in Black Communities
Homes in Black majority neighborhoods are undervalued by 23% on average compared to similar homes in other neighborhoods. Structural innovations that redesign our markets could create a more equitable housing market. To support new ideas, Economic Architecture and Brookings are mapping innovations across the US and invite innovators to step forward and apply to the Valuing Homes in Black Communities Challenge.