affordable housing - july 2018
Released July 2018
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We undertook this audit to assess affordable housing initiatives in the city, specifically those of Invest Atlanta and the Department of City Planning's Office of Housing and Community Development. We analyzed market conditions pertaining to affordable housing supply and demand, assessed housing and zoning best practices and initiatives in other municipalities, and reviewed administration and monitoring efforts for affordable housing stock.
- Based on tax digests, over half of homes in the City of Atlanta are affordable to households that the U.S. Department of Housing and Urban Development defines as "very low-income," earning less than $33,750 annually for a household of four.
- Affordable housing in the city is concentrated in areas with median incomes defined as low-income.
- While the city's housing costs are relatively low compared to other metro areas, they are rising.
- Nearly half of the over 99,000 households who rent in the city pay more than 30% of income on rent, meaning they are cost-burdened.
- Housing subsidies the city has provided developers have created a relatively limited supply of housing with half located in areas that are already affordable, lack access to transit, and contain below-average schools.
- Monitoring efforts for 25 sampled rental units ensured affordability compliance.
- The city's affordable housing goals are incorporated into multiple plans and lack quantifiable or measurable outcomes.