A recent report by the University of Maryland’s National Center for Smart Growth and Enterprise Community Partners has found that affordable housing in Maryland has not kept pace with the state’s housing needs.
The report, which was commissioned by the Maryland Department of Housing and Community Development (MDHCD), showed that despite efforts by the state to create more affordable housing, high construction costs, barriers to development and a lack of public/private investment have led to a deficit of affordable homes in rural and urban areas alike.
Key findings from the report included a current shortage of 85,000 affordable apartments in Maryland for families and individuals earning less than 30% of median income. In addition, the report also found that an additional 97,200 families and individuals earning less than 50% of median income are expected to move to the state by 2030.
“While the D.C. suburbs and Baltimore and its suburbs face significant shortages, this is really something we’re seeing statewide, from Western Maryland to the Eastern Shore,” said Nicholas Finio, associate director at the National Center for Smart Growth and one of the report’s lead authors.
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles.
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