Asheville Unveils Comprehensive Plan to Address Housing Affordability Crisis

Photo byAngela Wilhelm

ASHEVILLE — Asheville’s newly released 113-page Affordable Housing Plan addresses the city's severe housing affordability crisis, where over a third of households are cost-burdened, spending more than 30% of their incomes on housing costs. Between 2015 and 2021, Asheville's median rent increased by 33%, from $866 to $1,152, while median home values surged by 89%, from $199,800 to $319,400. During the same period, median wages grew by only 15% (Asheville Affordable Housing Plan, Sept. 9, 2024).

Plan Details and Objectives:

1. Origins and Funding: The plan was developed through a $146,517 contract with Enterprise Community Partners, partially funded by Dogwood Health Trust. It includes a 10-year roadmap with five primary goals and 40 strategies aimed at mitigating the housing crisis.
2. Strategic Goals: The plan’s goals include:
3. • Promoting policies and resources to help residents remain in Asheville.
   • Preserving existing affordable housing and improving housing quality.
   • Increasing the supply of housing to meet diverse needs.
   • Aligning housing policies with broader city initiatives.
   • Strengthening the affordable housing ecosystem.
4. Key Strategies: Strategies outlined in the plan encompass:
5. • Creation of a comprehensive inventory of affordable properties.
   • Reduction of regulatory barriers to facilitate housing development.
   • Preservation of mobile home parks.
   • Requirement for all city-funded developments to accept rental assistance.
   • Revisions to existing housing tools to enhance effectiveness and equity.
6. Expert Reactions:
7. • David Bartholomew, with Pisgah Legal Services, described the plan as "ambitious" and crucial for addressing displacement and eviction risks linked to housing prices. He emphasized that the plan’s success hinges on its proper implementation (Pisgah Legal Services, Sept. 9, 2024).
   • Andy Barnett, chair of the Affordable Housing Advisory Committee, hailed the plan as the most comprehensive strategy Asheville has developed in a decade. He noted that it reflects contemporary needs and policy solutions, unlike previous plans (Affordable Housing Advisory Committee, Sept. 9, 2024).
8. Implementation and Impact: The city plans to start implementing key priorities this fall, working with various community partners and stakeholders. The report also outlines potential funding sources, including a forthcoming $20 million housing bond referendum (Asheville Affordable Housing Plan, Sept. 9, 2024).
9. Future Projections: The plan projects a net increase of 14,000 households by 2050, primarily due to in-migration. This influx could exacerbate existing disparities and displacement risks, especially affecting Black and Indigenous residents and other people of color, who are disproportionately cost-burdened (Asheville Affordable Housing Plan, Sept. 9, 2024).

Further Reading:

• Affordable Housing Project: Entirely affordable housing project proposed off Brevard Road; received city and county loans.
• Fair Market Rent: Asheville area Fair Market Rent projections decrease for the first time in six years.
• High-End Real Estate: $8.5 million estate sells in high-end community near Asheville, highest sale in 2024.