The Housing Crisis in the Triangle
There is a shortage of attainable housing with three contributing factors:
Population growth outpaces attainable housing stock, driving prices upward
Decreasing number of attainable options due to rapid, luxury construction and redevelopment
Lower-income households can not afford to live in their historic neighborhoods
Finding a home in the Triangle is nearly impossible for low-income renters and first-time homebuyers.
At minimum wage to achieve the Triangle’s living wage of
Of available rental units in the Triangle are considered “affordable” by the local housing authorities
You may need a minimum credit score of …
To qualify for a loan as a first-time home buyer in the Triangle.
Community and nonprofit leaders face many challenges when seeking attainable housing placements for the homeless.
Income based properties are set to expire in the next decade
“Affordable” housing units will be lost in Wake and Durham counties every year as the housing market continues to grow
Total rental units in Wake County that are considered “affordable” and not subsidized
Some partners can provide emergency support directly following a crisis; however, most struggle to help their participants secure transitional attainable housing.
A critical event leads to a participant’s experiencing homelessness
Day 1 - 30
Partner takes immediate steps to assist participant experiencing homelessness
Day 31 - 60
Participant and case manager develop a plan for sustainable financial and personal change
Day 61 - 180
Partner on-boards participant for TPW’s restorative housing program
Month 12 - Month 24
Participant maintains employment, establishes savings plan, etcetera
Month 24 Onward
Participant demonstrates consistent employment, establishes good credit, and maintains long-term permanent housing