Background: What do we mean by Affordable Housing and Why is it important to all PWC residents?
Who are first time home buyers in our area? They are teachers, nurses, police officers, emergency responders, and others who work in the county. Here are some statistics on issues PWC residents face when attempting to buy their first home:
- The median or mid-point sales price for a home in Prince William County has risen to $520,000.
- The annual median income for a Prince William County resident is just over $109,000.
- The required down payment for first time home buyers ranges from 10% to 20% of the purchase price.
- Based on loan industry standards – someone making the annual median income in Prince William County can afford a house costing no more than $378,000!
- The county also reports we are facing a shortfall of at least 20,000 homes by 2040 to keep up with current demand.
We need affordable work force home buying options so our teachers, nurses, police officers, emergency personnel, and others who work in the county can afford to live here!
It is not just home ownership. PWC residents face barriers when trying to rent a “livable” apartment. Here are some statistics on issues potential renters are faced with:
- The average rate to rent a 850 square foot apartment in Dale City, VA is $19,200 annually or $1,650 per month.
- Using the accepted metric that housing costs should not exceed 30% of annual income, an individual looking to rent this 850 sq ft apartment would have to earn a salary of $64,000 annually or $31 dollars an hour.
We need affordable work force apartment rental options so individuals with entry level jobs in the workforce like store clerks, medical technicians, domestic workers and others who live in the county can afford to live here.
We need creative solutions to the affordable housing issue in Prince William County for example:
- Establish an Affordable Housing Trust Fund
- Implement an Affordable Dwelling Unit ordinance
- Explore public private partnerships
- Assure re-zoning options address environmental concerns
How is Prince William Planning to Address Affordable Housing?
The PWC Comprehensive Plan, Pathway to 2040 has set specific goals for addressing affordable housing. The St. Francis VOICE Ministry was proactive in working to establish the goals and the strategies by which these goals could be reached. You can read the full Housing Plan here. But here is a synopsis of the goals and strategies. It is a comprehensive plan that includes more than just affordable housing. It is based on:
Pathway to 2040
The Guiding Principles:
- Quality, price-appropriate housing – housing that costs 30% of the household’s annual gross income or less, that meets the needs of all current and future residents
- Implicit in this idea of attainability is the idea that a range of housing options (type, size, tenure, cost) should exist in the local market for a range of household income bands and preferences to support existing and new residents regardless of income.
- Housing is directly tied to public policy priorities such as economic development, education, transportation, environment, and health.
The Guiding Policies:
- Preserve and enhance existing neighborhood communities.
- Establish diverse mixed income housing communities that address the demand for additional housing, the demand for a variety of housing, and the demand for affordable housing.
- Develop implementation tools for both residents and the development community to provide for the construction and financing of affordable dwelling units to reduce disparities in the County (Policy # 3)
- Enhance mobility strategies that address the intrinsic relationship between housing and mobility in order to transportation costs in terms of both time and money and encourage multi-modal options that enhance the environment resulting in a greater quality of life for residents.
- Promote sustainable neighborhoods that support County-wide environmental goals, including reducing energy costs for residents and property owners.
- Ensure that developments result in equitable health communities that provide all neighborhoods the same services, amenities, open space, and recreational components in a quality setting.
- Identify regulatory changes needed to support implementation of these housing policies including universal design and accessibility enhancements.
Housing Policy 3: Affordable Dwelling Units –Here are the goals in concrete terms – Develop implementation tools for both residents and the development community to provide for the construction and financing of affordable dwelling units to reduce housing disparities in the County. Ensure the construction and financing of affordable and workforce housing to meet the projected demands of 33% affordable and 42% workforce housing as shown in the table below:
Goals: Number of Housing Units |
||||
| 2025 | 2030 | 2035 | 2040 | |
| Affordable Dwelling Units for families with 80% or less of AMI (MFI) | 58,600 | 63,400 | 66,500 | 69,000 |
| Workforce Dwelling Units for families with more than 80% of AMI (MFI) up to 120% | 74,600 | 80,700 | 84,60 | 87,800 |
Action Strategies:
H3.1: Research, develop, adopt, and implement an Affordable Dwelling Unit (“ADU”) ordinance to provide incentives for the development community to voluntarily support the affordable housing needs of the County.
H3.2: Encourage residential developments to incorporate affordable housing units especially in communities with proximity to transit facilities, services, and employment centers.
H3.3: Prevent and reduce homelessness housing insecurity by:
- Considering the establishment of homeless navigation centers in eastern and western Prince William County.
- Supporting permanent supportive housing for persons with disabilities who are experiencing homelessness.
- Supporting community partnership efforts to increase the range of diverse, affordable housing options.
H3.4: Consider creating a source of public subsidies (Federal, state, or County) in order to develop new affordable housing or to preserve existing housing at rents or prices that are affordable to the community’s low-income and moderate-income residents. Consider subsidy options where appropriate and consistent with applicable law, such as:
- Low-interest loan, grant, or tax credit,
- Subsidy in the form of reduced land costs,
Background reading: Report: Prince William County’s housing shortage to persist without policy changes