North Carolina Construction News staff writer
There is no metro area in the U.S. 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 two bedroom unit is $27.15 per hour.
Also, Raleigh recognizes that there is “very little incentive” for builders.
City staff says the solution is investing in affordable housing, site acquisition, public services, and more. Since 2016, Raleigh 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.
Click the link for a video produced by staff describes some of the ways the city is tackling the homelessness issue.