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Affordable Housing

Affordable Housing. University of Wisconsin-Extension. Putting Housing Costs in Context. no more than 30% of gross household income for housing expenses (rent or house payment). What is Affordable Housing?.

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Affordable Housing

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  1. Affordable Housing University of Wisconsin-Extension

  2. Putting Housing Costs in Context

  3. no more than 30% of gross household income for housing expenses (rent or house payment) What is Affordable Housing?

  4. Wisconsin workers need a job paying $11.63 an hour to afford a modest two-bedroom apartment that rents for $650 a month. Housing Wage

  5. Housing Wage Fair Market Rents Explanations

  6. Midwest Consumer Spending

  7. Incomes rising slower at the bottom

  8. 1 in 3 Wisconsin renters paid 30% or more of their income for rent A range from 18.3% in Calumet County to 38.4% in Dane County Of these, 1 in 7 Wisconsin renters paid 50% or more of their income for rent. WI High Rent Burden

  9. Wisconsin Rent Burden

  10. Median WI rent = $540 / month ____ Co. rent = $ / month (ranks #___ among 72 counties) How does ____ County compare?

  11. % Wi renters paying > 30% = 32.3% % ____ Co. > 30% =% (ranks #___ among 72 counties) How does ___ County compare?

  12. % Wi renters paying > 50% = 14.5% % ____ Co. > 50% = % (ranks #___ among 72 counties) How does ___ County compare?

  13. Wisconsin Home Prices

  14. 1 in 8 Wisconsin homeowners paid 30% or more of their income for housing From 10.8% in Wood County to 22.5% in Walworth County. Of these, 1 in 24 Wisconsin homeowners paid 50% or more of their income for housing WI Home Ownership Burden

  15. Wisconsin Home Ownership Burden

  16. Median Home Price in WI $112,200 Median Home Price in ____ County $ (ranks #___ among 72 counties) How does ___ County compare?

  17. WI homeowners paying > 30% for housing 17.8% ____ Co homeowners paying > 30% % (ranks #___ among 72 counties) How does ___ County compare?

  18. WI homeowners paying > 50% for housing 5.1% ____ Co homeowners paying > 50% % (ranks #___ among 72 counties) How does ___ County compare?

  19. Housing costs rising Low to moderate incomes stagnating More families risk homelessness Over 35,000 received emergency housing services (year ending March 31, 2003) A small fraction of those in housing crisis Homeless

  20. 56.7% were female 37% were children Small fraction of those in housing crisis 35,000 Homeless in 2002-2003

  21. 1/3 of homeless children enrolled in preschool lag far behind in visual motor skills A majority of homeless children function at bottom of their age group in verbal skills A majority of homeless children have emotional and behavioral problems Homeless children

  22. Choose between a roof and a meal Go without health care, child care or elder care Skip on taxes, savings or other necessities People double up Live in unsafe conditions Remain in abusive situations What do families do?

  23. More resources for school systems More social services for children Economic loss of children who become contributing adults – unable to contribute at their fullest potential What is the effect on communities?

  24. Does anybody care?

  25. Myth “People who move into affordable housing will have various social problems and be quite different from current residents” Fact or Fiction?

  26. Usually long-time residents of community Work in jobs with low wages Retired, disabled on fixed incomes REALITY

  27. Myth “Affordable housing will cause surrounding property values to drop” Fact or Fiction?

  28. No evidence of lowering neighbor’s property values Minneapolis-St. Paul Dane, Milwaukee & Waukesha REALITY

  29. Myth “Homelessness results from lack of well-paying jobs rather than lack of affordable housing” Fact or Fiction?

  30. Lack of affordable housing has a direct bearing homelessness Even slightly higher vacancy rates matter ▲1% increase in vacancy rates plus ▼1% decrease in rents equals ▼25% reduction in homelessness REALITY

  31. Housing is Good for Jobs • $1 of subsidy stimulates $8 in new consumer spending, business income, and construction spending.

  32. Lack of Housing is Bad for Jobs • Minneapolis-St. Paul loses an estimated $256 million annually BECAUSE of shortage of workforce housing

  33. Good quality, affordable housing Access to affordable home mortgage loans Affordable rental housing for families Affordable rental housing for moderate-income older adults Ways to match people to housing available Emergency housing and domestic abuse shelters Transitional Housing Community Needs

  34. Community Action Agencies Access to affordable home mortgage loans County, tribal, or interfaith social services Habitat for Humanity local affiliate Your county UW-Extension office Community Resources

  35. Get involved in local housing groups or help start one Make housing concerns known to officials Participate in public hearings and government meetings What else can you do? How can you help?

  36. Affordable Housing University of Wisconsin-Extension www.uwex.edu/ces/flp/demographics

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