Hudson Valley Musing

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What Is Meant By Affordable Housing?

Most people when they hear the term affordable housing immediately think of housing for the homeless are for the very poor.  Many go so far as to say they don't want such projects in their neighborhood as it would attract the wrong crowd.

Yes this is a common misconception of what affordable housing is.

According to a report on the Metropolitan Statistical Area (MSA) as defined by HUD,  the Area Median Income for a family of 4  in the Poughkeepsie-Newburgh-Middletown NY MSA is $78,900.

The Labor Department statictics in May 2006 for MSA areas on wages provided the follow figures for the Poughkeepsie-Newburgh-Middletown MSA area

Elementary Teacher $59,540

Register nurse           $62,750

Paralegal                   $48,970

Firefighter                 $44,480

Police                         $52,310

Carpenter                   $44,750

Engineer                     $71,190

System Analyst          $72,470

The median sale price for a house in Dutchess for May was:  $325,000

So affordable housing is a concern not just for the poor.  These numbers reveal that people making up the core part of our community could not afford to buy the median price home.

Yes affordable house affects your grandmother, the teacher next door , the firefighter to name a few.  It was no surprise that at the recent Affordable and Workforce Housing Conference it was repeated over and over that employers are having a hard time attracting new talent to the area because of the lack of affordable housing.

Stay tune for my writeup on the conference.

  

Jennifer Fivelsdal - JFIVE HOMES REALTY LLC - 845-758-6842- jennifer@jfivehomes.com

www.jfivehomes.com or www.midhudsonhomevalue.com

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14 commentsJennifer Fivelsdal • June 18 2008 08:03AM
What Is Meant By Affordable Housing?
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Most people when they hear the term affordable housing immediately think of housing for the homeless are for the very poor. Many go so far as to say they don't want such projects in their neighborhood as it would attract the wrong crowd. Yes this… more