About Affordable Housing
WHAT IS AFFORDABLE HOUSING? Means families pay no more than 30% of their household’s income for rent Example: $2,000/month $600/month spent on housing (rent, utilities, etc.) FWHS has programs ranging from those for families with extremely low incomes to those making up to 80% of area median income.
WHAT IS AFFORDABLE HOUSING?
In Fort Worth today, 1 in 5 households is severely cost burdened. WHO NEEDS AFFORDABLE HOUSING? In Fort Worth today, 1 in 5 households is severely cost burdened. While “cost burdened” is defined as spending more than 30% of their income on housing, “severely cost burdened” is defined as spending more than 50% on housing.
WHO NEEDS AFFORDABLE HOUSING? FOR AN INDIVIDUAL AMI INCOME FOR A FAMILY OF 4
WHY DO WE NEED AFFORDABLE HOUSING? In Fort Worth, it takes one person working full-time at $16.69/hour to afford the average one-bedroom apartment.
Affordable Rental Units WHY DO WE NEED AFFORDABLE HOUSING? -29,101 Affordable Rental Units *Reported by the National Low Income Housing Coalition for Congressional District 12 Businesses have a harder time recruiting and retaining workers if employees cannot afford to live near jobs or transit Population growth: 420 people are moving into Fort Worth every week Children who lack the stability of a home lag behind their peers academically Without affordable housing the cycle of poverty continues driving up the costs of social services, healthcare and public safety
WHAT IS NEXT FOR AFFORDABLE HOUSING? Residents from Butler Place have begun to relocate to properties approved for RAD conversion We anticipate the relocation of Butler Place residents to be complete by the end of 2020 FWHS has approved the first Transit Oriented Development in the city of Fort Worth in partnership with Trinity Metro FWHS believes housing is infrastructure and will continue to develop affordable housing in a manner that meets the needs of the community FWHS currently is partnering with COFW, HFC and other agencies to implement housing plans for Cavile Place, Las Vegas Trail and other areas of Fort Worth
WHERE IS AFFORDABLE HOUSING?
WHERE IS AFFORDABLE HOUSING?