Attainable and Affordable Housing: Creating Homes for All
Woodlawn Station, Chicago
As urban populations continue to grow and housing costs climb, middle-income families increasingly face being priced out of cities they call home. This pressing issue demands attention from urban planners, developers, and policymakers alike.
Industry experts including Kelly Farrell of Gensler, Rosemarie Hepner of the Urban Land Institute, and Phuc Tran of Jair Lynch have been examining the crucial differences between affordable and attainable housing in today's market.
Their analysis highlights how housing burden trends are significantly impacting urban residents, particularly those in the middle-income bracket. While acknowledging that the residential real estate development sector faces considerable challenges, experts note that the industry is also ripe with opportunity for innovation.
Several practical solutions have emerged from recent industry discussions, including policy changes, design innovations, and advocacy efforts. These approaches could help increase housing affordability, boost supply, and create a wider diversity of housing options for residents across different income levels.
Creating attainable housing solutions will require collaborative efforts across multiple sectors to ensure cities remain accessible to residents from diverse economic backgrounds. By addressing the attainable housing gap, communities can work toward preserving the economic diversity that makes urban centers thrive.
Top 5 Takeaways
The growth of urban populations is exacerbating shortages — As millions more seek housing in cities each year, supply has not kept pace, worsening affordability issues.
Attainable housing is a large part of the housing needs spectrum — While affordable housing continues to be a primary focus of communities, we must expand the spectrum of influence to include attainable housing. Our research shows that sale options for those in the attainable range of 80-120% are equally constrained as affordable housing.
Regulatory hurdles impede development — Cumbersome entitlement processes, local politics, and complex zoning codes drive up costs and timelines, often discouraging developers.
Missing middle housing types can address demand — Townhomes, duplexes, and low-rise multifamily buildings can help meet shifting preferences for walkability and community over large homes and long commutes.
Collective action is needed across sectors to make progress — Coordinated efforts between government, industry, and design will be essential to change housing zoning policies, streamline development, and produce diverse housing that can adapt to growing needs.
