Increase the number of affordable rental units for households with incomes 60% below median income by 54% by 2025
Objective Description
Trend Analysis
For FY 2024 and FY 2025 it is expected an additional 50 units will be added to the existing inventory each year. Projecting longer-term it is expected that there will an additional 250 units added between 2026 and 2029, bringing the total rental units in inventory to 1,127. This projection takes into consideration the existing Adequate Public Facilities Ordinance (APFO) for the years 2024 and 2025 which limits the creation of affordable rental units.
Strategies
- Howard County, with input from a diverse group of community members is currently requesting proposals to develop a Housing Opportunities MasterPlan with an over reaching goal of identifying the County’s affordability issues and needs along with strategies to address them.
- Maintaining the current MIHU program while identifying best practices to more effectively manage the program, especially where affordable rental housing is critically low supply.
- Continue providing financial education classes for those seeking housing in Howard County.
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Source: Howard County Department of Housing and Community Development