MSHDA Report Shows Shortage in Affordable Housing

SaveMICity understands the importance of creating attractive and vibrant places that draw people and businesses to our state. However, many municipalities lack an adequate supply of affordable and quality housing options, a critical component of thriving communities.

The Michigan State Housing Development Authority (MSHDA) recently released its Michigan Homeownership Study in which the organization found that Michigan will have a deficit of more than 150,000 affordable housing units by 2045.

“Michigan is known for its housing affordability,” Bob Filka, president of the Home Builders Association of Michigan, said in a recent Detroit News article. “That’s going to change if something doesn’t happen, and local communities are going to have to start working to find the housing investment they need.”

The study’s advisory committee, which included two Michigan Municipal League executives, urged policymakers, local governments, nonprofits and others in the housing industry to use the data collected to help address and resolve this serious issue.

“Homeownership strengthens communities, enables families to build equity, and makes important contributions to the economy,” advisory committee members wrote in a joint message included in the study. “All of us have a stake in finding solutions to the state’s lack of affordable for-sale homes… This problem will not go away on its own.”

For more information or to view the study, visit bit.ly/MIHomeStudy.