The Urban Institute recently released an article about how an equity lens is essential to mitigating the effects of hotter summers that are expected in the future due to climate change. As our climate continues to rise, low-income neighborhoods and communities of color are much more likely to experience hotter summers and the effects that come with it, even compared to higher income neighborhoods in the same area. This, along with less access to air conditioning and cooler buildings, means that marginalized communities are most vulnerable to the health risks associated with climate change.
Planning
Research shows new affordable housing can raise neighborhood property values
A report by the Urban Institute published in April of this year shows new research on how affordable housing units impact property values on nearby residences. Although a common argument used to oppose affordable housing is the fear that it could lower property values, data from this report shows that this is not true. In fact, affordable housing developments can actually raise property values for nearby homes.
New data shows how Vermont towns balance jobs and homes
Towns with sufficient homes to house the employees that work there are more likely to make inroads against climate change and the housing affordability crisis. According to data published this week by the Vermont Housing Data website, the top Vermont town with over 10,000 workplaces to strike this balance is Essex. For every 100 homes in Essex, the town has 112 jobs.
Grants available for community place-making
The State of Vermont has announced the launch of of Better Places, a statewide community grant program that empowers Vermonters to create vibrant and inclusive public places in the hearts of Vermont communities.
The program is a joint effort between the Vermont Department of Housing and Community Development, the Vermont Department of Health, the Vermont Community Foundation and Patronicity.
Using local ARPA funds for housing can help Vermont municipalities
VHFA and the Vermont League of Cities and Towns recently published a checklist of options for using local recovery funds provided through the American Rescue Plan Act (ARPA) to promote recovery from the pandemic through investments in housing and neighborhoods. By providing more safe, affordable housing, communities can address inequities, promote health and spur broader economic benefits. The checklist joins the many resources available to communities in the Vermont Housing-Ready toolbox.
Survey reviews barriers and incentives for affordable housing in Vermont towns
We know that housing development in Vermont has slowed in recent decades and this—combined with population growth, a decrease in household size, and wage stagnation—has led to the cost of buying and renting inching more and more out of reach for over one third of Vermonters. Though the solution will necessitate action from many sources, including federal and state government, municipalities can play a vital role in encouraging development and combating unaffordability.
Large New England lot size requirements push up home prices
Construction survey data finds that new homes in the Northeast tend to be built on far larger lot sizes than elsewhere in the country. The median newly built single-family home in the Northeast was built on a little under half an acre, compared to less than a quarter of an acre nationwide. Research suggests that strict zoning laws are responsible for the disparity and have resulted in higher home development costs and sale prices.
Investing in housing will help marry growth with vibrancy
Vermont learned last month that its population grew by a slim 2.8% between 2010 and 2020, less than the national average of 7.4%. But by planning to invest millions in American Rescue Plan Act funds in homes and neighborhoods, Vermont policy makers have embraced the opportunity presented by this decade to accelerate community and economic vibrancy. Last week, the Vermont legislature ended its session with a proposed 2022 state budget allocation for housing of $190 million of these federal recovery funds.
Facing worsening housing shortage, Upper Valley initiative provides solutions
By 2030, the Upper Valley region will need to triple the pace of home building and conversions to meet projected demand from existing and future residents, according to the collaborative Keys to the Valley initiative. About one-third of the region’s households are cost burdened by paying more than 30% of their income for their housing. With the region’s aging population and declining average household size, these trends suggest a path forward that preserves existing homes, encourages new homes, improves housing affordability and fosters diverse, smaller housing types.
Towns can help mitigate rising new home prices in Vermont
With difficulties mounting for home builders across the country, Vermont’s new home prices have started increasing at a faster pace. After several years of minimal growth, the median new primary home sold for $388,000 in Vermont in 2020, up $22,000 from the prior year, according to Multiple Listing Service (MLS) data. Eighty-nine percent of builders reported that the price of building materials is their top challenge, according to the National Association of Home Builders (NAHB).