Forever Home, Durham will have a significant impact on housing affordability in Durham. The program established the following expectations in 2019: to create and preserve 2,400 affordable rental homes, create 400 homeownership opportunities, house 1,700 residents experiencing homelessness, and offer services and financial assistance to stabilize over 3,000 renters and owners in their current homes. While these milestones are important, even with this investment, there is much more work to be done to address the large-scale, complex challenges related to affordable housing in our City. According to the U.S. Department of Housing and Urban Development, there are over 12,000 renter households in Durham – most of them very low-income – paying more than 50 percent of their income for housing. Addressing their needs, as well as the needs of low-income homeowners, homebuyers, and residents experiencing homelessness, requires a multipronged strategy. In addition to a continued commitment to housing security and affordability, there must also be a focus on racial and ethnic inequalities, economic development, and the creation of quality jobs. Forever Home, Durham is just one piece of the puzzle.
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