#620 - Will upzoning neighborhoods make homes more affordable

Housing affordability is a growing issue in America, and there’s a battle over how to fix it happening on blocks across the country. Zoning—the rules that govern how cities use their land—is on the front line.

Between 1986 and 2017, the median price of single-family housing in the U.S. rose from 370 percent of the median U.S. household’s yearly income to 410 percent, according to the Harvard Joint Center for Housing Studies. Eleven million American households spend more than half their paychecks on rent and utilities. The number of cost burdened renters is on the rise, especially among middle-income households. The percentage of “supercommuters”—meaning those who travel more than 90 minutes each way to work—has skyrocketed. Almost nowhere in the United States is it possible for a minimum-wage worker to afford a two-bedroom apartment. Each year, an estimated 2.5 to 3.5 million people experience homelessness. Progressive coastal cities and rural America alike are experiencing shortages of affordable housing.

Join your host Sean Reynolds, owner of Summit Properties NW and Reynolds & Kline Appraisal as he takes a look at this developing topic.

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