Last week we provided you with data from a statewide housing advocacy agency on the status of affordable housing across Fall River and Massachusetts. We want to see how that data compares to that supplied by the city.
The city’s Community Development Agency operates the city’s affordable housing programs. Executive Director Michael Dion says the numbers provided by Housing Navigator Massachusetts do not tell the entire story.
He says even though state numbers have Fall River’s affordable housing stock at just over 10 percent, the programs he helps oversee ballons that figure closer to 27%.
Mr. Dion says Fall River is still one of the most affordable places to live in Massachusetts. He says even though those with low incomes are struggling, Fall River’s affordable rents are well below market rate. Tenants who have benefitted from these affordable rates tend to do so for some time.
Mr Dion admits that no one foresaw the cost of real estate rising at such a pace since the end of the pandemic, especially with demand outpacing supply.
He says as more and more market-rate units are planning to be built in the coming months, it may not make much difference in lowering rates for low-income residents.
Renters are not the only sector of housing being impacted by rising costs. Young families starting a new life cannot afford to purchase a first home.
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