Millions of people and communities across the United States dedicated their time and resources to address the lack of secure, safe, and affordable housing options. If you don’t know what affordable housing means, it’s simply the housing that can be occupied or purchased within 30% of the total annual income of any individual. Even though the definition might seem simple, affordable housing is undoubtedly a complicated situation says Maxwell Drever.
In New York and many other states of America, the affordable housing crisis is at its worst. More than 30% of Americans face financial problems after paying the rent that has been taking some serious issues due to the current economic changes. Only 10% of people of New York have access to non-market housing. Even though the demand for affordable housing is great, people are struggling regarding the misconceptions of affordable housing as well as their benefits. Here are the top 3 benefits of affordable housing options in several critical categories.
The availability of affordable housing will develop various opportunities for the economic growth of the country. While also fostering a healthy and stable relationship with the people. When people have access to a safe and comfortable house, they will be able to shift their focus from surviving to living. Having a fixed location, a comfortable place to call a house, and a sense of belonging within the respected community will help people to reach milestones, set new goals, and find a new purpose in life. Remember that people cannot develop their life if they don’t have a safe place to call home. Affordable housing provides individuals of low income to live with prosperity.
This is one of the most common misconceptions of affordable housing. High-income families think that affordable housing will damage the communities. However, transitional, supportive, and affordable housing is dependent on the characteristics of the population as well as the development of the economy. This phenomenon is a great challenge that many developers face while developing affordable housing, says Maxwell Drever. Additionally, many people also think that affordable housing will decrease the value of the property. While increasing the rate of litter, crime, and theft.
The design standard of affordable housing is the same as the value of other projects of the housing market. And there are no studies that proved affordable housing will decrease the property value. Affordable housing is extremely important to growing the community by boosting investment and development from the municipal government.
Health and Essentials
Affordable housing has a great impact on both physical and mental health. When people have access to affordable housing, they will be able to save a lot of money that would help them cover other basic expenses such as medicines, healthcare, groceries, and other types of essential services, stated Maxwell Drever.
The extra income and reduced financial stress that come from living in an affordable house. Will undoubtedly have a positive effect on the mind. People who are cost-burdened due to the renting system often sacrifice basic expenses and their well-being.
Affordable housing options are one of the most important tools for people who come from lower and middle-income backgrounds. From gaining the ability to afford essentials to supporting the education of the child. Affordable housing boosts the life of citizens while supporting the community.