The Shortage of Affordable Workforce Housing

The Shortage of Affordable Workforce Housing

This research involves an investigation into the shortage of affordable workforce housing in the United States. While the workforce continues to grow, housing development has not kept up for households inthe middle quintiles of their area’s median income, or AMI. Affordability and distance from work arethe main factors the workforce considers important in deciding where to live. The affordable workforce housing shortage is clearly an economic and political issue. Supply and demand dynamics drive up the price of land where it is most sought after, and yet creative solutions exist to offset the increased demand of the workforce. Various government organizations provide housing assistance programs, but may be limited to investment in housing designed for the lower quintiles, leaving the middle quintiles in need. Experts and legislators have proposed policy change on this issue. Essentially, affordable workforce housing is elemental for cities to maintain because it helps attract and retain a talented workforce while enabling metropolitan areas to develop economically.