Veterans face housing crisis as affordability plummets

During a recent government meeting, discussions centered on the pressing issue of veteran homelessness and the broader housing affordability crisis in Georgia. Presenters highlighted alarming statistics indicating that approximately 35,000 veterans are homeless nationwide, with estimates suggesting the actual number could be as high as 75,000 due to underreporting. In Georgia alone, the number of homeless veterans is believed to be significantly underestimated, with current figures around 700 to 800, potentially doubling or tripling when accounting for those not counted.

The meeting underscored the growing demographic of homeless veterans, particularly single female parents, prompting initiatives to develop more two-bedroom homes to accommodate families. Mental health and substance abuse issues were also acknowledged as critical factors contributing to veteran homelessness, with around 1.4 million veterans in Georgia at risk of homelessness.

The affordability crisis was a major theme, with the average home price in the metro Atlanta area rising to $379,000—an increase of 55% since 2019. This surge in housing costs has left approximately 392,000 households in the five-county core area cost-burdened, struggling to keep up with rising rents and home prices. The meeting revealed that to address this issue, an estimated $270 million per month would be required to subsidize affordable housing for those in need.

Efforts to combat these challenges include the Georgia Dream Select program and the Peach State Plus Veterans Assistance program, aimed at providing financial support to veterans seeking affordable housing. However, the meeting highlighted a significant decline in the availability of homes priced under $300,000, dropping from 49% in 2017 to just 12% in early 2023, as developers focus on more profitable segments of the market.

Overall, the discussions emphasized the urgent need for targeted solutions to address both veteran homelessness and the broader housing affordability crisis in Georgia, as many individuals are forced to relocate further from their jobs in search of affordable living options.