This has been a consistent trend in Columbus in recent years. When public meetings are held on the topic of affordable housing, people come together in droves with good ideas.
It happened again on March 20, as The Republic's Brad Davis reported. Dozens of area residents gathered at Columbus City Hall to discuss housing, specifically affordable housing, as part of the city's housing study to be released in late summer.
But with all the discussion, we need to clearly address what “affordable” means when it comes to housing in Columbus.
If you're lucky enough to earn well above Columbus' median annual household income of $75,114, the median monthly ownership cost of a home with a mortgage of $1,381 can be quite a It may seem affordable.
These are data points from the 2020 Census, but other data shows the real struggle too many residents face just to keep a roof over their heads.
please think about it. The median per capita income for people living in Columbus between 2018 and 2022 was $40,925. This means that half of the people in this city earn less than that. After federal and state withholdings are deducted, a typical worker earning the median income will have a monthly take-home pay of just under $2,600. Additionally, this does not include the cost of benefits such as health insurance or retirement savings.
But let's use our monthly take-home pay of $2,600 anyway. According to Census data, the median rent in Columbus during the same period was $1,081, so individuals earning that median income generally had to realistically .
Looking at these numbers, someone earning the median income in Columbus has to spend almost 42% of their paycheck on rent. And this doesn't require luxuries like health insurance or retirement savings, much less utilities, food, transportation, or child care. And let's not forget that half of our city's workers make less than her $2,600 monthly take-home pay.
So before you even consider a home, the data already shows that: Many people who work in Columbus cannot afford to live in Columbus.
Of course, our city is not alone in this problem.
But one of the assets we have is a community of problem solvers. We believe that real-world affordable housing solutions will open more doors, not just for affordable housing in Columbus, but for more people and families who deserve the opportunity to own affordable homeownership. I believe it will be found in the proposals of many people who are eager to see it open.
The city definitely has a role to play. Columbus city leaders recently drew praise for spending millions of city dollars on subsidized luxury apartments that many residents criticized.
This criticism resonates because the same aid is not reaching those who need it most. We believe that the city's tax increment resources that supported the above-market rate downtown apartment plan can and should also be used to encourage affordable housing.
There is a strong will among many who recognize the need for innovative affordable housing solutions and want it to become a reality. For the benefit of all of Columbus, city and community leaders must find a way to work together.