People who care about their views more than their neighbors sometimes argue that there's no housing affordability crisis, despite all available evidence. Let's talk about some of that evidence!
Over 5000 households, or half of renters, are cost-burdened, meaning they spend >30% of their income on housing. Over 2700 households are extremely cost-burdened and spend >50% of their income on housing.
Before the pandemic, rents were increasing at about 5.8% per year. And sale prices in R-1 zones have increased from $321000 in 2016 to $482000 this year.
The median renter doesn't make enough to afford the median rental, and the affordability gap for renters without college degrees is growing.
Why are prices rising so much? At least in part because we're adding jobs faster than homes. Since 2010, we've gained 11000 jobs (great!) but only built 2600 homes (not great!).
Many cities have similar problems, but that doesn't mean we shouldn't tackle the affordability crisis in Charlottesville. There's a huge national housing shortage, and we all have to pitch in:
If you still think there's no affordability crisis here, try talking to your phlebotomist or your kid's teachers. Try talking to your barista or your neighbors who waited years for a housing voucher.
Charlottesville is turning into a gated community, and if you can't see that, maybe it's because you don't want to see it.
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A question that keeps coming up is whether Charlottesville has a housing crisis.
We think the answer is yes & that it extends beyond very low income residents. Here is a chart from Albemarle County showing jobs that do not make a “housing wage,” such as teacher & electrician.
What is a housing wage? It’s how much someone working full time needs to made to afford a 2 bedroom apartment. In Albemarle County in 2019, it was around $24-25 an hour, more than most people working in the county make.
The RST rezoning is going before the Albemarle County Board of Supervisors this Wednesday evening, the 15th. If approved, it will allow 190 affordable homes for 30 years between 30-80% Area Median Income (average of 60% AMI).
The development will have 332 homes total on 19.5 acres on 29 North near Forest Lakes and Hollymead. It includes 254 apartments, 190 of which will be affordable (via Low Income Housing Tax Credit funding). The remaining units will be market priced townhomes.
This proposal was recommended for approval by the County Planning Commission 6-1 on June 15th. There has been significant opposition to this project from Forest Lakes residents. You can read more about that meeting here dailyprogress.com/news/local/gov…
There's been a lot of talk about whether single-family zoning is good or bad for affordability. Without comment, here are some single-family homes that were built in Charlottesville in 2020.