ATLANTA — The Atlanta Regional Commission has released its first-ever regional housing strategy as home prices become increasingly unaffordable for many families across metro Atlanta.
The plan, called “Housing Forward 2035,” is a long-term strategy focused on the region’s housing needs over the next decade.
ARC CEO Anna Roach called it a “landmark regional planning effort that will help shape metro Atlanta’s housing future.”
The ARC projects the region will meet only 25% of housing demand through 2035 for households earning less than $55,000 a year.
“By 2035, 75% of the people making less than $55,000 a year won’t have a housing solution to speak of,” Roach said.
Roach said finding housing is already difficult for people with lower incomes.
“It’s already a challenge for people at the lower end of the income scale to find safe, sustainable, stable, and affordable places to live in our region,” Roach said.
Housing Forward 2035 includes goals of building strategically to keep pace with population growth, closing the affordability gap and activating vacant and underused properties.
The strategy also addresses where housing is located. The ARC says the largest population growth is occurring primarily in communities surrounding Atlanta, while jobs and employment continue to grow in the center of the city.
If those trends continue, the ARC estimates 80% of metro Atlanta households will face commutes longer than 30 minutes. One of the strategy’s goals is to put new affordable housing near transit or in areas with potential job growth.
The strategy comes after recent ARC data showed regional growth slowing for the first time in years, driven in part by low housing availability and affordability.
According to real estate website Redfin, the median sale price for a home in the Atlanta area is about $425,000, roughly $50,000 higher than five years ago.
“That is a sobering number; should be a sobering number to each of us,” Roach said. “Imagine how much more difficult it’s going to be if we do nothing to change the course of where we’re heading.”
WSB Radio’s Ashley Simmons & Bill Caiaccio contributed to this story.
