Residents of Rocky Mount are grappling with significant housing affordability challenges, as recent data reveals that over 45% of renters in the city are classified as \"cost burdened,\" meaning they spend more than 30% of their income on housing. This trend is exacerbated by a nearly 20% increase in rental prices since 2022. Homeowners are not immune to these pressures either, with 29% facing similar cost burdens, as the median sales price of homes has risen by 8% since 2012.

Despite Rocky Mount's median housing prices being lower than the state average, the rapid pace of price increases is outstripping state growth rates, leading to worsening affordability issues for residents. The city's desirability, attributed to its proximity to Raleigh and other attractions, is contributing to this trend.

The meeting also highlighted a concerning 16% vacancy rate across Rocky Mount, with downtown experiencing the highest at approximately 40%. This disparity raises questions about the availability and condition of housing stock, prompting discussions on strategies to increase occupancy rates.

Employment data presented during the meeting indicated that Rocky Mount's unemployment rate stands at 7.5%, significantly higher than the state average of 4%. Over the past five years, the city has lost around 2,000 jobs, further complicating the economic landscape. The median household income in Rocky Mount is just under $50,000, trailing behind both state and national averages.

Educational attainment also emerged as a critical issue, with 36% of residents aged 25 and older holding only a high school diploma or equivalent. The meeting underscored the need for targeted interventions to address these socioeconomic challenges, particularly in wards with the highest unemployment and lowest educational attainment.

As the city grapples with these multifaceted issues, community engagement and data-driven strategies will be essential in crafting effective solutions to improve housing affordability, employment opportunities, and educational outcomes for Rocky Mount residents.