The supply of moderately priced housing is critical to the economic viability of the Wood River Valley. Every employer facing hiring decisions is confronted with not being able to recommend affordable housing options for prospective employees. Until we, as a community, can create a supply of quality housing options at moderate prices we will struggle to diversify and strengthen our local economy.
What can be done to reduce or eliminate the affordability gap?
Community Housing programs are designed to develop housing that can be purchased or rented by families whose incomes do not exceed 80% of the Area Median Income. The ARCH Community Housing Trust has successfully delivered over 50 affordable housing units to qualified families. ARCH has also developed rental housing for low to moderate income families and seniors at levels (including utilities) no greater than 30% of their monthly incomes. The addition of rental housing helps increase overall supply of housing therefore easing the inflationary pressure on housing prices.
Anything that can be done to encourage market rate housing developers to add to the moderately priced housing supply will help.