In the United States, the disparities between the incomes of the rich, and low or moderate income people, have become so extreme, and the costs of housing has gone up so steadily, that fully one quarter of all households are in need of affordable housing. Far too many go without it – living with high housing cost burdens, always at risk of losing their homes because of a social or health problem, or interruption in income.
People whose incomes are below 50% of the Area Median Income (or “average” for Chicago and suburban areas), may have enough income from wages and other sources to pay for the expenses of their leased or owned homes, but paying for a mortgage and property taxes is an extreme burden. Affordable housing is by definition not available in the marketplace without special savings, resources, subsidies or extraordinary assistance. Therefore, when we try to save affordable housing, we need to keep the following in mind.
Affordable Housing is necessary for all communities and the city, state and federal governments should pay for it. This is especially true on Chicago’s north lakefront, where property maintenance and tax challenges stress owners and tempt them to sell properties to the highest bidders.
Affordable housing should come with funded services that connects residents to community, resources, opportunities and emergency assistance (as needed) to keep people stable in their homes.
Affordable Housing makes us more “diverse” – providing quality homes to people of low income, people of color, people of all ages and needs, and it adds to the diversity we want in a just and welcoming community.
Affordable housing should be “sustainable” with low or no taxes, mortgage payments, energy efficiency, with rent subsidies for the lowest income and access to technical assistance to address the vexing challenges of property management and ownership.
Affordable housing should be “permanently affordable” and a valued resource for all communities, whether they have high needs or high costs of housing.