During a recent government meeting, officials discussed the pressing issue of housing affordability in Middleton, Wisconsin, highlighting the significant gap between low-income households and available affordable housing units. The analysis presented indicated that, based on data from 2020, Middleton needs to produce approximately 256 new housing units over the next three to five years to address the needs of very low-income households, particularly those earning less than 50% of the area median income (AMI).

The discussion revealed that there are currently about 515 cost-burdened renters and 290 cost-burdened homeowners in Middleton, meaning these households spend more than 50% of their income on housing. This situation underscores the urgent need for affordable housing solutions, as the median home price in Middleton is around $438,000, while the median household income stands at approximately $87,000. This disparity indicates that many residents are unable to afford homeownership, with the required income to purchase a median-priced home being around $118,000.

Officials noted that the average rent in Middleton is about $1,300, which is more manageable for households earning around $56,000. However, the overall housing market remains challenging, with a projected population growth of 8,000 people by 2050, necessitating the construction of about 150 new housing units annually to accommodate this increase.

The meeting emphasized the importance of targeting affordable housing development, with estimates suggesting that around 65% of new units should be affordable to low-income households. The officials acknowledged the need for a proactive approach to tackle the housing crisis, suggesting that building 100 to 170 affordable units per year could significantly alleviate the burden on cost-burdened households.

In conclusion, the meeting highlighted the critical need for strategic planning and collaboration to address housing affordability in Middleton, with a focus on creating more affordable units to support the community's low-income residents.