Does your community need affordable housing? The fact is, no matter the population or the average earnings in your town or city, every community needs affordable housing. So when it comes to the most vulnerable and lowest-income among us, how can affordable housing make a true impact?
Here are some facts that prove the power of affordable housing development.
Fact: Homelessness is Still a Problem
Across the country, there's still a vast need for affordable and emergency housing for those who are homeless and low-income. According to the National Alliance to End Homelessness (NAEH), it's estimated that as many as 17 people per 10,000 are homeless in America. While this number is on the decrease across many U.S. states, the impact of developing affordable housing properties is still strongly needed—the national figure has decreased in the past year by nearly a percentage point.
Fact: States are Stepping Up
The decrease of homelessness in many state's populations can be at least partially attributed to efforts to develop affordable housing. In fact, according to NAEH, at least 33 states have increased their supply of available beds and housing year over year—this includes emergency shelters, temporary housing and permanent, affordable housing.
Fact: Development is Job Creation
One often forgotten positive aspect of affordable housing development in a community is job creation—for example, in New York alone, the state's Association for Affordable Housing estimated that in a five-year span, affordable housing development created nearly 330,000 jobs for workers in need of a paycheck. (This includes nearly 50,000 permanent, non-contract jobs.) The benefits of developing housing for those most in need have ripple effects on a community beyond the goodwill of the immediate outcome.
Fact: It's Helping Our Kids
Environment can play a big role in a child's behavior and academic abilities. Affordable housing plays a role here, too. A Johns Hopkins study recently found that families that spend 30 percent of their monthly income on rent or other housing expenses have more well-adjusted children with better academic performance than those spending 50 percent or more. Affordable housing is more than simply a place to live—it can impact how we live.
Start a Project
Are you ready to make an impact in your South Dakota community? Affordable housing development is something of which South Dakota Housing Development Authority (SDHDA) wants to be a part. Start investigating your options for financial support.