Maxwell Drever Explains the Importance of Affordable Workforce Housing
Although workers are one of the critical foundations of our economy, it is sad that so many cannot find quality housing that fits into their budget. Most of these workers earn between $15 and $30 per hour says Maxwell Drever. Certainly, wages like these do not leave room for building enough savings over time to purchase a home, let alone make a substantial down payment for one. This fact, along with the series of other factors contributing to the current increase in housing costs, has created a desperate need for an increase in affordable workforce housing. In this article, Maxwell Drever covers the importance of affordable workforce housing and the real-world challenges that have made this so. What is Workforce Housing? Workforce housing is a term used to define housing suitable for households that earn 60-120% of an area’s median income, usually involving middle-income workers. The definition of workforce housing may change depending on the organization and agency. Due to the poor wages and wage disparity across the country, there have been extreme shortages of proper housing for workers, and while lower-income households are still, for the most part, taken care of, the workforce doesn’t have much to fall back on. Why is Affordable Workforce Housing Important? According to the Joint Center for Housing Studies in Harvard, nearly 25% of households that live on rent… Read More »Maxwell Drever Explains the Importance of Affordable Workforce Housing