Los Alamos County is set to revamp its Affordable Housing Plan for the first time since 2010, aiming to address a significant housing shortage that has left many residents cost-burdened. During a recent council meeting, Housing and Special Project Manager Dan Osborne presented an innovative plan designed to expand the county's participation in affordable housing initiatives, increasing the income eligibility threshold from 80% to 120% of the area median income (AMI).

The plan, which has received approval from the New Mexico Mortgage Finance Authority (MFA), outlines a comprehensive approach to support various affordable housing projects. This includes the ability to donate land, fund renovations, and support infrastructure development. The overarching goal is to create a toolbox for decision-makers that will facilitate the construction of diverse housing options, particularly for low and moderate-income households.

Osborne highlighted the pressing need for affordable housing, noting that Los Alamos, like many areas across the country, is experiencing a generational deficit in housing supply. Current data indicates that rental prices have surged by 100-130%, while median sale prices have increased by 75%, exacerbating the affordability crisis. The county's rental vacancy rate stands at a mere 2.7%, significantly below the healthy threshold of 5%, indicating a critical shortage of available rental units.

The proposed plan aims to address these challenges by setting ambitious benchmarks for new housing production, targeting 150 units per year, with a goal of reserving at least 15 of those for low and moderate-income households. The plan also emphasizes the importance of higher-density developments, which are deemed essential for creating affordable housing without excessive subsidies.

In response to questions from council members, Osborne acknowledged the complexities of the housing market in Los Alamos, particularly the impact of high area median incomes on rental prices. He emphasized the need for targeted strategies to ensure that affordable housing remains accessible to those in need, including potential partnerships with multiple service providers to broaden the scope of assistance available.

As the council considers the plan, it is clear that the need for affordable housing in Los Alamos is urgent, with many residents struggling to find suitable living arrangements. The proposed changes aim not only to alleviate current pressures but also to foster a more sustainable and inclusive community moving forward.