A Letter From Wake Affordable Housing Coalition (WAHC)
The Wake Affordable Housing Coalition (WAHC) is an assembly of nonprofit organizations working together to provide housing opportunities throughout Wake County. WAHC advocates for strategies that further our shared goal of housing affordability for all.
Given the need for more affordable options in Raleigh, WAHC strongly endorses the proposed Affordable Housing bond that voters will consider in November.
Raleigh is one of the fastest growing cities in the country, and with growth comes an increase in land values and housing costs. Nearly a third of Raleigh households – the vast majority of whom are considered “very low income” – are cost-burdened, meaning they spend more than 30% of their income towards housing. These same families often have difficulty affording other necessities, such as food, transportation, healthcare and education.
The cost of housing is rising more rapidly than incomes, leaving a gap between available homes and what residents can afford. WAHC organizations serve households with a broad range of incomes, including those earning below 30% of the Area Median Income (AMI), 30-50% AMI, and up to 80% AMI.
As service providers, we cannot overstate the need for increased housing options for those we serve. A variety of strategies are needed to fully address the housing affordability issue in our region and funding is a critical piece of the solution. More must be done, but the bond is an important step in the right direction.
If we fail to pass the bond in November, Raleigh will miss a critical opportunity for additional resources. Without it, we are limited in our ability to further housing outside of what is currently being produced. If passed, the bond will fund greatly needed housing opportunities for City residents with limited incomes and allow nonprofits to serve more effectively.
As the economic impacts of COVID-19 continue to unfold, the number of families struggling to maintain stability will only grow. The pandemic has created more urgency surrounding improved housing solutions for Raleigh. Now more than ever, it is critically important that we rise together as a community to address the City’s housing affordability challenges.
The housing bond is a crucial step forward for our region and we encourage Raleigh residents to vote yes in November.
Sincerely,
Wake Affordable Housing Coalition (WAHC)