AFFORDABLE HOUSING: A COUNTY PRIORITY
Early in 2015, the Chatham County Board of Commissioners identified the lack of affordable housing, including rentals, as a priority issue. Available data shows that the county lacks options that middle-income and low-income families can afford.
SOME QUICK FACTS
- As of August 2017, Zillow.com reports that Chatham County's median home price is $267,100, but the median price for those currently on the market is $449,900.
- The price of homes has gone up 8% in the past year, which outpaces all the surrounding markets, according to Zillow.
- Chatham County is higher than Durham Metro and Wake County in terms of median price of homes, growth in home prices, and cost per square foot, according to Zillow. The only surrounding county with higher home prices is Orange County.
- The issue is compounded by residents having to spend more income for transportation due to long commutes to work.
To address the affordable housing issue, the Chatham County Manager's Office began working with consultants at the Triangle J Council of Governments and new Affordable Rental Housing Task Force. The towns of PIttsboro, Siler City and Goldston also have been partners. Here are a few key findings:
- 41% percent of renter households are cost burdened (i.e. they spend more than 30% of income on rent & utilities)
- 66% of renters making less than 80% of the area median income (AMI) are also cost-burdened
- Chatham County needs at least 1,995 more rental units to meet needs of households making $50,000 or less per year.
AFFORDABLE HOUSING ADVISORY COMMITTEE
The Board of Commissioners has now transitioned the Rental Housing Task Force into an official Affordable Housing Advisory Committee, as of October 2017. This advisory committee is meeting to develop additional recommended steps that the county and towns can take to address the lack of affordable options. For more on the committee, click here.
CHATHAM COUNTY AFFORDABLE HOUSING POLICIES & PLANS
- Executive Summary: Chatham County Affordable Rental Housing Report
- Chatham County Affordable Rental Housing Report & Strategy Toolbox includes strategies for Chatham County government and the towns of Siler City, Pittsboro and Goldston.
INDEX OF HOUSING RESOURCES
The primary purpose of these webpages is to provide an array of resources to help those looking for affordable housing, needing assistance to make to existing properties, seeking help paying for residential expenses, or needing additional information.
NEED HELP PAYING FOR HOUSING-RELATED EXPENSES? Such as mortgage payments, rent, utilities, etc.