Affordable Housing in the News
“The price of housing is on a higher trajectory than wages, and the affordability gap in the middle is getting wider,” said Steve Danyliw, chairman of the DMAR Market Trends Committee. “Is this sustainable? In my opinion, no.” – via Denver Business Journal.
The Denver Metro Association of Realtors reported that the average price of a home that sold in April in metro Denver climbed to $439,161. This is double Habitat Denver’s average sale price of a new home of $221,900.
Rents continue to increase as well, with the Denver Business Journal reporting the median rent of a one-bedroom apartment at $1,250.
You can explore the gap between the demand and supply of affordable rental units in every single U.S. county with an interactive map from the Urban Institute. Spoiler alert: Denver metro counties aren’t even serving a third of affordable housing demand.
The New York Times takes a deep dive into how homeownership builds wealth with a mix of family stories and policy analysis. It’s a long-read into a complex subject and illustrates just how important stability and affordability are in housing.
Let’s keep building.