Unaffordable Housing Near Jobs in DC Metro Area | How Housing Matters

Unaffordable Housing Near Jobs in DC Metro Area

January 05, 2015  
 
 
 

The high cost of real estate in the Washington, DC metropolitan area keeps workforce households living on the periphery. According to a 2009 report, workforce households are largely priced out of both rental and for-sale housing near major employment centers in and around the city. With one of the strongest post-recession economies, and very low rates of new housing permits, the undersupply of workforce housing in the Washington, DC metro region is likely to continue into the future.

Major findings:

  • Over the next 20 years, there is an estimated need for approximately 5,000 new for-sale homes to meet the needs of workforce households, defined as households with incomes 60 to 100 percent of area median income (AMI).
  • There is a shortage of approximately 40,000 affordable housing units near major employment centers for households with 3 or more people.
  • Workforce housing needs in Washington, DC will likely go unmet if current conditions persist.
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