Housing affordability policies and why they matter
Even before the COVID-19 pandemic, more than 1 in 7 families in the U.S. were paying half or more of their income on housing. With tens of millions of individuals filing for unemployment during the pandemic, the situation is likely much worse. Families who are facing additional economic hardship from lost wages are being confronted with impossible choices between paying their rent or mortgage and paying for life’s other essentials. That is unacceptable.
While the examples shared here showcase some common state and local policy solutions adopted by communities across the country to improve home affordability, they only represent a sampling of the promising policy solutions that align with the subthemes of the Cost of Home campaign.
Habitat’s five-year Cost of Home campaign is built on four areas of policy focus that will enable families to have greater access to homes they can afford.