OHIO – The Ohio Chamber of Commerce is urging policymakers to address the state’s growing housing affordability crisis, which they say disproportionately impacts low and moderate-income residents.
Key Takeaways:
- Ohio needs safe, affordable housing for all residents, and achieving this requires collaboration.
- Affordability is defined as spending no more than 30% of income on housing costs.
- Many Ohioans struggle to meet this threshold, with nearly 80,000 Central Ohio households cost-burdened.
- Housing production faces challenges like land availability, regulations, and workforce shortages.
- The Chamber’s Blueprint for Ohio’s Economic Future recommends increasing homeownership and affordable rentals.
- Policy solutions might include zoning reform, tax credits, and assistance for aging residents.
The Problem:
The report highlights the rising cost of housing in Ohio, making it difficult for many to afford decent homes. Construction limitations further exacerbate the issue. Low-income and moderate-income renters are particularly affected, with many spending over half their income on rent.
The Call to Action:
The Ohio Chamber urges policymakers to work with housing experts to find solutions. They recommend focusing on:
- Increasing homeownership: This builds wealth and stability for families.
- Expanding affordable rentals: This ensures everyone has access to decent housing options.
- Encouraging zoning reform: This can increase housing supply and diversity.
- Utilizing tax incentives: Tools like historical tax credits can spur development.
- Developing tax solutions for aging residents: This helps them stay in their homes.
Moving Forward:
The Ohio Chamber emphasizes the need for continued dialogue and collaboration to address the housing crisis. By prioritizing solutions, they aim to ensure every Ohioan has access to safe, affordable housing, contributing to a thriving Sense of Place in the state.
