The Need for Workforce Housing

With rent prices soaring in many cities, more families than ever before are struggling to afford a place to live. For decades, affordable housing has traditionally served those who lived on a low- or fixed income, including elderly and disabled people, single parents, and students.

But over time, the rising cost of real estate, along with wage stagnation, has pushed market-rate housing out of reach for many moderate-income families as well. For teachers, police officers, delivery drivers, nurses, day care workers, and many others who play a vital role in our society, housing consumes a significant portion of their income. And that means that once they’ve paid their rent, they don’t have enough left over for healthcare, utilities, or food, TEDc develops workforce housing that helps families to thrive. By creating affordable communities where essential workers can live within their means, we encourage future investment in the same community.

How Affordable Housing Uplifts Communities

In families that spend a third—or more—of their income on housing, it becomes a challenge to think beyond the next payday. With so much of each paycheck devoted to rent, every remaining dollar is carefully allocated to basic needs such as food, transportation, and child care. Doctor visits, a new pair of shoes, school supplies—these expenses are often delayed or set aside in order to keep a roof over their heads and food on the table.

When affordable housing is available to families, it opens doors that were previously closed. Not only are families able to become more economically secure, but their outcomes for health and education improve as well. And with affordable places for people to live, companies are more inclined to invest in the local economy.

At TEDc, we believe that workforce housing is the key to transforming the economic outlook in communities of modest means—and helping individuals and families achieve their goals.