According to the Kenan Institute of Private Enterprise, the affordable housing crisis in the United States has plagued Americans across the country since the Great Recession—and is only getting worse. 2022 estimates indicate that the U.S. needs some four to five million more homes on the market than it has right now. Housing costs have become increasingly untenable for renters and buyers alike; over 40% of renters are cost-burdened (meaning they spend more than 30% of their income on housing costs), and housing prices are rising faster than wage growth in 80% of U.S. markets. Moreover, the situation has been exacerbated by the work-from-home boom and supply chain shortages that resulted from the COVID-19 pandemic. Demand increased as Americans moved to the suburbs; at the same time, supply decreased due to shortages of labor and building materials.
Cities across America are making strides to resolve the housing issue. In Tallahassee, Florida, the Hammond Design Group Architects are proud to collaborate with the Tallahassee Lenders Consortium (TLC) and the City of Tallahassee to bring to life a new affordable housing community. This visionary partnership merges TLC’s mission of affordable homeownership with the city’s goal of offering diverse housing options.
