The Capital Region is facing a housing affordability crisis.
| state of the housing affordability crisis in 2023 |
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1 in 8 Michigan households spend more than half of their hard-earned income on housing |
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118,848 home shortage leaves thousands of families desperate for a place to call home |
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$23.97/hour wage needed to purchase a median-priced home in Michigan |
There are not enough housing units, regardless of income. As stagnant wages fail to keep pace with the soaring costs of housing, the promise of affordable shelter slips further away.
On top of the shortage of homes, high mortgage interest rates are binding homeowners to their properties. This reduces the already limited options for those in need, driving up prices for everyone. Low- to moderate-income individuals – teachers, healthcare professionals, and essential workers – find themselves excluded from the opportunity to secure this fundamental asset for a better future.
In the face of such adversity, Habitat Capital Region's Homeownership Program continues to build and rehab homes, selling them with affordable mortgages.
This program not only provides roofs over heads but also opens the door to generational wealth-building for those who have long been denied this opportunity.
Get involved in the housing affordability crisis
Habitat Capital Region remains committed to ensuring everyone has a safe, decent, and affordable place to call home.
But we cannot do it alone. Together, we can make a difference and give families the chance to build a better future.
