The Urban Land Institute's report entitled Attainable Housing: Challenges, Perceptions, and Solutions, highlights best practices and ideas on developing attainable housing. Attainable housing is defined as for-sale housing serving moderate-income working families. Units are affordable to households with incomes between 80 and 120 percent of the area median income (AMI) without subsidy.
Houston's Housing and Community Development Department identified the 2020 AMI for a family of four as $63,050 and $94,550, respectively.
Read the study to learn more about what has influenced the change in demand developers and builders are seeing "as a result of the rise of the small household, which has implications for denser, smaller homes at attainable price points."
For more information, visit ULI's Attainable Housing website.
FAMILY RENTER HOUSING
Declining homeowner rates, rising housing costs, the expected increase in millennials starting families and an increase in multigenerational households are spurring a need for "new and interesting forms of rental housing that target a broader range of households, including many families." The new family-oriented rental housing is discussed in ULI's report, Family Renter Housing: A Response to the Changing Growth Dynamics of the Next Decade. What is family-oriented rental housing? It is defined as housing of any density with two or three bedrooms.
For more information, visit ULI's Family Rental Housing website.