When communities take a moment to consider their most important assets, the candidates often mentioned they include high-quality schools, access to parks and open space, a solid job base, a vibrant arts scene, and even a winning sports franchise.

How often have you heard an ample supply of affordable housing mentioned as an asset? Instead, conversations about affordable housing usually focus on the cost to taxpayers and rarely consider the fiscal and economic benefits that accrue when communities encourage the development of affordable homes.

As cities and counties try to bring their revenues and expenditures in line and prioritize how to spend scarce resources, policymakers and planners should understand the benefits of well-designed affordable housing programs. Such programs are important now more than ever, as research demonstrates that housing affordability has worsened significantly in recent years.