What is affordable housing, and why is it needed in the Capital Region?
Affordable housing is typically defined as housing that does not require a household to spend more than 30% of its income on housing costs. As the cost of living has continued to increase nationwide over the years, fewer and fewer families are able to live in housing that is considered affordable. The Capital Region has seen particularly significant increases in housing costs over recent years, which combined with a massive reduction in the federal workforce has made it even more difficult for people to afford to live here. Today in DC, 48 percent of renters have unaffordable housing costs. In both Baltimore and Richmond, 52% of renters have unaffordable housing costs. Producing, preserving, and protecting affordable housing will require collaboration across the public, private, and nonprofit sectors—including government agencies, housing providers, lenders, employers, community organizations, advocates, and many others who play a role in creating thriving communities.
How does Housing&’s work bring more affordable housing to the Capital Region?
Housing& is uniquely positioned to help produce, preserve and protect affordable housing because we are a truly cross-sector association. Our network brings together leaders from government, housing development, finance, philanthropy, advocacy, healthcare, technology, and other industries to advance housing solutions across the Capital Region. We believe that taking a holistic approach to housing– and recognizing the many ways it impacts individuals, families, and communities– is critical. That’s why we offer a wide variety of trainings, forums, relationship-building opportunities, and cross-sector collaborations that strengthen partnerships, share best practices, and spark innovative solutions.
Each year, in partnership with the Urban Institute, Housing& also releases the Housing Indicator Tool (HIT) to assess the state of affordable housing across the region, track how jurisdictions are progressing toward their housing goals, and identify actions that policymakers, practitioners, and community partners can take to advance these priorities.
