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Maryland housing officials say state is underproducing homes, point to new laws and programs to expand supply
Summary
At a House Environment and Transportation Committee briefing, the state Department of Housing and Community Development described rising rents, housing cost burdens, and early implementation of last year's housing laws, and said dozens of affordable projects are in a state pipeline.
Secretary, Maryland Department of Housing and Community Development, told the Environment and Transportation Committee on the state of housing that rents are rising, housing supply is short and state programs are beginning to be implemented.
The briefing focused on why Maryland needs more housing, what the administration says it has done since last year and early signs of projects using newly authorized pathways. "Rents continue to rise," the Secretary said, noting the latest median-rent figures show a double-digit real-term increase since the committee last met.
The presentation stressed the scale of the problem: since 2010 median home value rose from about $300,000 to $413,000 (a 37% increase) and median rents have risen about 46% in the same period. The Secretary cited a current average mortgage rate near 6.9% and said more than half of Maryland renters now spend more than 30% of income on…
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