CHATTANOOGA, Tenn. — The cost of housing in Tennessee continues to outpace the average income of its residents.
That’s according to the Sycamore Institute, who says costs are making it increasingly difficult for residents to afford stable housing.
Here in Chattanooga, data from the U.S. Census Bureau shows that while median home prices are around $394.9K, the median household income is $62,547.
With a growing need for more affordable living options, we asked Mayor Tim Kelly how he plans to bridge the gap.
The mayor tells us he’s looking at ideas from mayors in other cities for inspiration.
“80% of median income for a single person… around $53,000. It’s going to be very difficult for them to be able to qualify for a mortgage, considering that the price of homes around Chattanooga are about $300,000.”
Roya Evans, executive director of the Chattanooga Community Housing Development, says for the past two decades, she’s made it her mission to help Chattanoogans get affordable housing.
While it has been hard at times, she says the work is worth the effort.
“Knowing that you create wealth and you are actually helping people who need help, and changing lives one person at a time, that is usually a wealth that stays in the family.”
Chattanooga Mayor Tim Kelly says affordable housing projects are key for the city’s future.
While the process may be slow for now, Mayor Kelly says he’s looking to other cities for inspiration.
The mayor says he met with nearly 200 other mayors in Tampa, Florida for the annual U.S. Conference of Mayors.
The conferences allows them to trade ideas on solving issues like unemployment and the cost of living.
“I got some great ideas about how San Diego is reforming its land development office to speed up affordable housing, to make it easier for people doing affordable housing to get permitted quickly and move through the system more quickly.”
Mayor Kelly says affordable housing is near the top of his list of concerns.
In San Diego, a new program has allowed more than 50% of permits to be issued on the same day.
These fast-track permits allow San Diego’s affordable housing units to be built at a rapid pace.
Something Mayor Kelly hopes is possible for Chattanooga.
“How do we increase the supply of housing? And affordable housing? It’s a big, hairy, complicated problem. But, you know, the ability to come together with mayors from around the country and compare best practices is really valuable.”
Evans urges anyone who needs help with affordable housing to reach out to her.
“The highest rent that I have on a two bedroom is $800. We have even some of them that are no more than $450 because it’s a senior citizen. We base our rent based on the ability of our tenants to be able to pay it.”
Housing has also been an ongoing concern for the rural parts of Hamilton County.
The Regional Planning Commission (RPC) proposed “Plan Hamilton” as a potential solution to manage growth in the county’s rural areas.
Commissioner Ken Smith says he planned to vote ‘no’ on an amendment in the plan that would have allowed three homes per acre in new developments.
He was unable to cast that vote because county commissioners voted to table the ‘Plan Hamilton’ proposal.
In a recent Facebook post, Smith says…
“As of now, there’s no clear path to bring Plan Hamilton back for a vote … We deserve thoughtful, balanced growth that protects our community and preserves the quality of life we all value.”