There is no metro area in the country where a full-time minimum wage worker can afford a 2-bedroom apartment at fair market rent. In Raleigh, the wage required to afford a 2-bedroom unit is $27.15 per hour. This means that neighbors, including childcare workers or medical assistants, may be burdened by the cost of housing.
The City is working to tackle the puzzle of housing affordability by investing in affordable housing, site acquisition, public services, and more. Since 2016, the City has:
- Created or preserved over 2,800 affordable units
- Helped 600 first-time homebuyers purchase a home
- Repaired over 200 owner-occupied homes
- Assisted over 12,000 individuals experiencing or at risk of homelessness through rapid rehousing and emergency shelter
- Offered public services to over 10,500 individuals.
Learn more about why housing is unaffordable and what the City is doing about it by watching the video below!
Our work is not finished! Visit the Affordable Housing 101 webpage for more information about affordable housing and the City's actions to address our community needs. To be notified about future videos in this series and other updates about affordable housing and community development, sign up for email alerts under the topic "Community Development News."