Low Income Housing Does Not Harm Property Values, Study Shows
Low income housing units have no effect on nearby property values, according to a new study by real estate company Trulia. The finding comes at a time when there are some concerns around affordable housing in Leon County.
Some of the most common concerns around affordable housing construction are tied to home values. But this study reaffirms a body of research that undermines those fears. And it works to counteract the so-called NIMBY mindset, meaning 'not in my backyard'. A proposed tiny house development in Fort Braden was met with similar concerns earlier this year. Florida Housing Coalition President Jaimie Ross says too many picture slums when they hear the word affordable.
“Today’s affordable housing is built by the private sector, using the tax credit program predominantly. It’s beautiful housing, it looks just like market rate housing, meaning housing that’s not affordable. Has all the same outward finishes, beautiful design,” Ross said.
Ross says public education and outreach from developers can help combat the negative stereotypes of affordable housing.
Leon County Housing Services Manager Lamarr Kemp agrees that more education is needed.
“Their only understanding of affordable housing is Section 8, welfare type based housing. So I think that’s the objection when they hear the word affordable housing, without knowing what affordable housing truly is,” Kemp said.
Housing is technically affordable when it costs a resident 30% of their monthly income. Kemp says housing should not be a financial burden for anyone, regardless of income level.