What Is Affordable Housing?
Affordable housing is safe and decent housing for individuals and families that qualify based on their income. Unfortunately, it’s all too common to see low-income families having to spend more than 30% of their income on rent alone, leaving insufficient funds for other necessities such as food, healthcare, and transportation. Cost-burdened households often have to go without the things they need, which can have a significant impact on safety, security, and overall well-being. Affordable housing makes it easier for them to live comfortably.
Individuals eligible for affordable housing include:
- Extremely low-income families: Those at or below 30% of the median income of the local area.
- Very-low-income families: Those at or below 50% of the median income of the local area.
- Low-income families: Those at or below 80% of the median income of the local area.
- Moderate-income families: Those at or below 120% of the median income of the local area.
Affordable housing is often referred to as “workforce housing,” as many of the individuals living in this type of housing are some of our most essential workers, including teachers, law enforcement, grocery store employees, emergency service providers, and more.
Benefits of Affordable Housing
Affordable housing is a legal obligation of the state of Florida to meet the housing needs of the entire community. The Growth Management Act of 1985 declares that the state must house all current and anticipated residents.
Some of the greatest advantages of affordable housing include:
- Eliminates substandard housing
- Provides housing for individuals from every socioeconomic background
- Reduces eviction rates
- Creates more job opportunities
- Increases economic mobility
- Reduces intergenerational poverty
- Increases economic growth
Flanigan & Associates is honored to do our part in developing affordable housing opportunities that change the lives of countless residents here in Florida.
From finding suitable land and securing financing to building structures and ensuring compliance with local regulations, Flanigan & Associates develops affordable, beautiful housing for those who need it most. Our affordable housing community development projects include single-family homes, multifamily dwellings, and public housing.
Working with a variety of partners, Flanigan & Associates handles every aspect of the development process such as:
- Land acquisition
- Site planning
- Obtaining financing
- Obtaining local permits
- Property management
- General construction
- Construction management
As a veteran owned and operated company, Flanigan & Associates takes great pride in serving our community in any way we can.
Work with the most trusted affordable housing developer in Bonita Springs by calling (239) 232-2426.
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