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17 <br /> 1 Slide #28 <br /> Adding Homes Can Keep Costs Down for the <br /> Middle of the Market <br /> Median housing values as a multiple of median incomes,2022 Metropolitan areas that added <br /> .Metroareaswithlowh—mgvalues Metro areas with middle and high housing values more housing units between <br /> io <br /> 2000 and 2022 had lower <br /> °sA°le� housing costs by 2022, <br /> 8 meaning that the typical <br /> middle-class household was <br /> °'" much more likely to be able to <br /> gam" Mlaml <br /> afford buying a house. <br /> 4 <br /> 2 <br /> 04 20% 46% 60% 80% <br /> Change in housing units,2000 to 2020 <br /> U R B A N I N S 7 1 7 U i B - Source:US Census 2000 and 2022;ACS 2020-24. 2u <br /> 2 <br /> 3 <br /> 4 <br /> 5 Slide#29 <br /> But Can We Be Sure That Zoning Reforms—and <br /> New Housing Supply—Target All Needs? <br /> The influence of zoning reforms is likely to vary! <br /> • Location: Reforms may enable construction in some neighborhoods, <br /> but not those where people most want to live.As such,those areas <br /> may continue to become more expensive. <br /> • Housing type and tenure: Reforms may intentionally encourage <br /> investment in multifamily, rental projects.That may not reduce costs <br /> for people in the market to buy single-family homes. <br /> • Affordability: If reforms are not associated with more investment in <br /> subsidized affordable housing,they may not help households with low <br /> incomes. <br /> U R B A N I N i i I}U i B <br /> 6 <br /> 7 Commissioner McKee asked how the county can avoid driving out residents due to the <br /> 8 taxes required for subsidies. <br /> 9 Commissioner Portie-Ascott asked if filtering can help address housing needs. <br /> 10 Yonah Freemark said filtering is made possible through the construction of substantially <br /> 11 more housing units which make the existing market more affordable. He said this helps address <br /> 12 the middle-income market. He said there are other policy decisions that should be considered. <br /> 13 He said the low-income housing tax credit is key for people in the moderate-income range. He <br />