While 2016 statistics show increasing availability in the area’s rental housing market, Asheville renters say their choices remain limited and prices steep. Several city initiatives — including a $25 million affordable housing bond referendum approved by voters in November — aim to bolster the supply of affordable housing, while some private-sector players are pursuing similar goals.
Finding a place to live in Buncombe County has gotten slightly easier in the past two years as a result of some 1,500 new rental units coming available. But monthly rents continue to rise, despite these new residences and the promise of thousands more currently under construction.
Third-quarter data released by two real estate research firms show an improving environment for Asheville metro area renters.
Third-quarter data released by two real estate research firms show an improving environment for Asheville metro area renters. After a late 2014 report showed a rental vacancy rate of less than 1 percent in Asheville and Buncombe County, local officials and renters have frequently described the area’s shortage of affordable housing as a crisis.
Asheville’s housing affordability crisis has received a lot of attention, but solving the problem demands a wide range of solutions. One set of initiatives is looking at ways private real estate investors focused on building smaller, more affordable homes to ease the housing crunch.
Planners with the National Environmental Modeling and Analysis Center presented a progress report on their efforts to create a climate-resiliency plan for the city of Asheville. The presentation took place on Wednesday, Nov. 16 at the Collider in the Wells Fargo building downtown.
The Carolinas Real Estate Investors Association will host a panel discussion on innovative models for increasing the supply of affordable housing on Monday, Nov. 14 from 6:30-9 p.m. The public is invited to attend.
