Frequently Asked Questions
Q. What is “affordable housing”?
A. According to the federal government, affordable housing means that a household pays no more than 33 percent of their monthly income for housing. Affordable housing helps ensure that a family has sufficient money to pay for necessities such as food, clothing, medical care and transportation.
Q. Why is “affordable housing” important?
A. Affordable housing is important to individual families and to our entire community. When a family has affordable housing, they are more stable and have sufficient money each month to pay for necessities like food and clothing. Affordable housing is also important to our community. When people don’t have affordable housing they are more transient and more likely to leave our community. As a community, we have a challenge to find individuals to fill key employment positions – nurses, police officers, sanitation workers, etc. It is also more difficult to attract new businesses and improve economic development. Companies won’t relocate here if their employees can’t find housing and existing employers spend a significant amount of money on recruitment and training associated with turnover caused by the high cost of living.
Q. Who needs affordable housing?
A. We all do. Individuals and working families in our community need safe, decent and affordable housing and our community, as a whole, benefits when families are not cost burdened, paying too much for housing. Economic development is easier and our community thrives when there is a diverse supply of housing for all families.
Q. Will affordable housing lower my property value?
A. No. Affordable housing simply means that the housing is affordable for the family living there. If a family receives down-payment and closing cost assistance to purchase a home, the value of adjacent homes does not decline.
Q. What factors are causing our housing prices to rise so quickly?
A. Land in Flagstaff and the surrounding area is limited. Flagstaff is surrounded by National Forest, State Trust Land and other land that is dedicated to preservation. Because there is a limited supply of land for development, the cost of land is increasing dramatically. At the same time, the demand for housing has increased. Flagstaff has become a place for second homes, investment homes and retirement homes. These home buyers are competing in the market with first-time homebuyers and local working families.
