Affordability calculator and our region.

Affordable housing, particularly for the service sectors of our region, is one of the most pressing crises we face. I have written about it before and will continue to do so.  At least two people made their way to my blog today after searching for “charlottesville affordability;” equally interesting is that the search was from the Spanish language google.

This is an interesting calculator (archived: 2016) that highlights the following:

When it comes to the health and vitality of America’s communities, affordable housing is key. And where it is lacking, the challenges are formidable. Local governments deal with overcrowding and congestion. Employers struggle to attract and retain the labor force so vital to their bottom line. Low- to moderate-income working families work longer hours, endure long commutes or cut back on basic necessities in order to pay for housing.

Who are among the ranks of America’s workers struggling to afford housing? In some high-priced communities, people who provide the bulk of vital services – teachers, firefighters, police officers, retail sales workers and restaurant workers – cannot afford to live in the communities they serve. Even in more moderately-priced communities, people who work a full-time job pay an excessive portion of their income for housing.

Check out what a firefighter makes and how much he/she would have to make to afford a median-priced home in Central Virginia. Then consider making a contribution to the Workforce Housing Fund (no longer available). I have.

The median sales price for the entire market area in the third quarter was $270,000 which is $40,000 more than the previous year’s figure.

Thanks to CAAR for the data (archived: 2006). Thanks to Businessweek for the initial link.