The Austin Strategic Housing Plan, drafted in 2016 and now under review, identifies public policies and development incentives that can help increase the supply of affordable housing. The report estimates that by 2025, Austin will need an additional 60,000 units of housing that are affordable to people earning 80% of the Median Family Income or less.
The City of Austin is rewriting its land development code, and the hope is that CodeNEXT will increase housing supply with a streamlined development process and allow for greater choice and affordability in housing options. Density bonus programs are examples of policies that increase affordable housing units at no taxpayer expense. These policies allow developers to increase density if they dedicate a percentage of housing units to be affordable.
The Austin Chamber has partnered with 100 business and social service organizations to develop an Affordability Action Plan. The Plan calls for increasing housing supply by allowing at least 15,000 housing units to be built per year for 10 years, with at least 25% affordable housing for households at 80% Median Family Income (MFI) and below, including 200 Housing First Permanent Supportive Housing units per year; and 25% “missing middle”/workforce housing at 140% MFI.
The Austin Housing Coalition brings together low income housing providers form across the community to network and share information with the goal of increasing our community supply of affordable housing. Most low-income renters earning less than $35,000 who are not cost burdened are living in housing that is provided by these low income housing providers, or in housing that is federally subsidized.