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{"id":731,"date":"2024-03-13T16:00:57","date_gmt":"2024-03-13T16:00:57","guid":{"rendered":"http:\/\/www.dc4reality.org\/updates\/?p=731"},"modified":"2024-03-15T02:41:48","modified_gmt":"2024-03-15T02:41:48","slug":"dcs-unaffordable-affordable-housing-problem-2","status":"publish","type":"post","link":"http:\/\/www.dc4reality.org\/updates\/731","title":{"rendered":"DC’s Unaffordable “Affordable” Housing Problem"},"content":{"rendered":"\n

In this post, we will explore why DC’s “affordable” housing is not affordable for most working families and residents in DC.<\/p>\n\n\n\n

In DC, “affordability” presents us a math problem that most people just don’t have the time or care to figure out. We hear the word “affordable” and everything must be all good. It’s not.<\/p>\n\n\n\n

What is DC’s affordability problem?<\/h2>\n\n\n\n

DC’s “affordability” is calculated using the Area Median Income (“AMI”) or the functional equivalent Median Family Income (“MFI”).<\/strong><\/a><\/p>\n\n\n\n

The AMI is based on the incomes of working residents in the DMV region including the District of Columbia, Northern Virginia, and parts of Maryland. <\/p>\n\n\n\n

In fact, the AMI includes incomes of some of the wealthiest people in the United States like residents in Fairfax County, VA and Montgomery County, MD. And more and more wealthy people are moving into the region and they are making more and more take home money every year.<\/p>\n\n\n\n

Thus in 2023-2024, the AMI for our region is $152k\/yr for a family of four. For a household of one (a single person), the AMI is $106k\/yr.<\/strong><\/p>\n\n\n\n

\"\"<\/a><\/figure>\n\n\n\n
\n

Source: Webpage, “2023-2024 Inclusionary Zoning Maximum Income, Rent and Purchase Price Schedule” at the DC Department of Housing and Community Development (DHCD) Wesbite, https:\/\/dhcd.dc.gov\/publication\/2023-2024-inclusionary-zoning-maximum-income-rent-and-purchase-price-schedule<\/a><\/p>\n<\/blockquote>\n\n\n\n


\n\n\n\n

There are three critical issues (among others) using DMV’s AMI to calculate DC’s “affordable” housing:<\/h1>\n\n\n\n

The AMI increases annually, thus DC’s overall affordability decreases each year.<\/em><\/h2>\n\n\n\n