{"id":742,"date":"2024-03-04T21:03:00","date_gmt":"2024-03-04T21:03:00","guid":{"rendered":"http:\/\/www.dc4reality.org\/updates\/?p=742"},"modified":"2024-11-24T18:02:25","modified_gmt":"2024-11-24T18:02:25","slug":"dcs-affordability-policy-based-on-the-ami-is-broken","status":"publish","type":"post","link":"http:\/\/www.dc4reality.org\/updates\/742","title":{"rendered":"DC’s Affordability Policy Based on the “AMI” is Broken"},"content":{"rendered":"\n

During the pandemic in 2022, GGW\u2019s Libby Solomon covered how DC\u2019s \u201caffordability\u201d index is based on the DMV\u2019s ever increasing Area Median Income (\u201cAMI\u201d). See here: https:\/\/ggwash.org\/view\/81935\/here-are-dcs-new-affordable-housing-income-limits-for-2021<\/a><\/p>\n\n\n\n

However, what GGW consistently forgets to do is make some solid conclusions that may help the people struggling to stay in their hometown of DC. For example, using Ms. Solomon\u2019s insights and links in her post above combined with the data points below (all cited and sourced to original DC government reports), we conclude:<\/p>\n\n\n\n

DC\u2019S AFFORDABILITY POLICY IS BROKEN<\/h1>\n\n\n\n
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  1. Any \u201caffordability\u201d policy in DC that relies on the annually increasing Area Median Income (\u201cAMI\u201d) or functional equivalent Median Family Income (\u201cMFI\u201d) is broken;
    <\/li>\n\n\n\n
  2. The policy and results become more and more broken as wealthy residents in the region become wealthier and as the DMV welcomes more and more new wealthy people.
    <\/li>\n\n\n\n
  3. As the AMI continues to trend upwards, DC becomes less affordable and gentrification increases. This means the growing displacement of lower income residents which pushes up the AMI even faster fueling even more gentrification. <\/li>\n<\/ol>\n\n\n\n

    Looking at the AMI Numbers — DC’s affordability is becoming less and less affordable as the AMI increases annually<\/h1>\n\n\n\n

    See the following data points over time:<\/em>

    Year; AMI
    2011; 106,100
    2013; 107,300
    2015; 108,600
    2018; 117,200
    2020; 126,000
    2021; 129,000
    2022; 142,300
    2023; 152,100<\/p>\n\n\n\n

    Conclusion:<\/strong> <\/h2>\n\n\n\n

    Between 2013 to 2023, the AMI has increased $44,800, a 42.2% increase over ten years. This means the available pool of “affordable” units becomes less and less accessible by those who need it most as wealthier DC residents (those making more than two to three times the minimum wage) can qualify for DC’s limited supply of so-called “affordable” housing units.<\/strong><\/p>\n\n\n\n

    The U.S. Census numbers show the results<\/a>: A substantial number of lower income families and residents have been displaced from the city (60,000 Black residents over the past two decades) under DC’s current broken “affordability” policy based on the ever increasing “AMI.”<\/strong>

    Ward One leads in Black displacement<\/a>, with 25% of the Black population made gone over the past ten years as the AMI is really just starting to soar.<\/strong><\/p>\n\n\n\n

    AMI Sources:<\/em><\/p>\n\n\n\n