Advisory Center for Affordable Settlements & Housing

acash

Advisory Center for Affordable Settlements and Housing
ACASH

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Document TypeGeneral
Publish Date01/02/2015
AuthorAllison Allbee
Published ByChangeLab Solutions
Edited ByArslan Hassan
Uncategorized

PRESERVING, PROTECTING, AND EXPANDING AFFORDABLE HOUSING

Download Document
Document Type:General
Publish Date:2015
Primary Author:Allison Allbee
Edited By:Arsalan Hasan
Published By:ChangeLab Solutions

In many parts of the United States, there is a growing interest in urban living. In a sizable number of cities where populations were declining or stagnant, the population has begun growing again, leading to increased property taxes and private investment. However, many of these new urban residents have higher incomes than existing residents, creating competition for a limited supply of housing, and contributing to rising rents and home prices. Growing demand for housing in many urban areas has led to rising housing costs in neighborhoods that have historically been affordable to low- and moderate-income individuals and families. When growing demand or new investment results in rising property values, the number of affordable housing options may decline dramatically. Rising housing costs undermine equitable access to neighborhoods offering health and quality of life benefits such as safety, walkability, open space, and healthy food, which are often enhanced by the growing demand for housing and associated development. Many residents may also see neighborhood changes leading to the erosion of the cultural fabric, social networks, and economic opportunities.

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