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Committee hears that nearly half of renters are cost-burdened; senior housing shortfall flagged
Summary
Presenter Jacob said roughly 50% of renters in the region are cost-burdened and that the region will need about 7,700 senior care beds by 2029, a need that compounds the broader housing shortfall and pressures long-term care planning.
Jacob told committee members that affordability is severe for renters: "there's roughly 50% of our renters are cost burdened" and that 10–20% are severely cost-burdened (defined in the presentation as spending about half of income on housing). He said homeowners face lower rates of cost burden.
Jacob also highlighted aging-related needs, stating there are about 7,700 homes or senior-care beds projected to be needed by 2029 in addition to the general housing shortfall. Committee members noted the combination of housing shortages and lagging wages in Buncombe County increases housing attainment challenges and discussed how the strategic plan's economic development goals may intersect with housing strategies.
The presenter and committee discussed prioritizing rehabs and preservation of existing affordable housing stock, down-payment assistance and renter deposit assistance as immediate interventions identified in a small stakeholder survey.
