why weavers grove
WE envision a world where everyone has a safe, stable, and affordable place to live. Unfortunately, that’s not a reality — at least, not yet.
The challenge of providing affordable and inclusive housing can be found throughout the country. Chapel Hill is no exception. A steadily growing population has squeezed the housing market and pushed up the average price of a home. It now costs around $605,000 to purchase a home in Chapel Hill, one of the most expensive places to live in the state. Instead, mixed-income communities like Weavers Grove can help make homeownership a reality for those who can’t afford these prices while also producing benefits for the broader community. Here’s how:
the case for affordable homeownership
LEARN MORE ABOUT THE BENEFITS OF AFFORDABLE HOMEOWNERSHIP FROM THE FOLLOWING RESEARCH STUDIES.
EDUCATIONAL OPPORTUNITIES
Affordable homeownership gives families both short- and long-term benefits. Because parents can spend less time working and more time with their children, their children do better in school and are more likely to attend college than those living in unaffordable housing.
ECONOMIC SECURITY
Access to stable, affordable homeownership allows families to spend more on necessities.
In fact, one study found that affordably housed families spend nearly 5X as much on health care, 33% more on food, and 2X as much on retirement savings.
UPWARD MOBILITY
Affordable homeownership is also an effective way of ending the cycle of poverty. Research shows that children who move from high-poverty to low-poverty neighborhoods have higher incomes, are less likely to be single parents, and live in better neighborhoods as adults.
RELIANCE ON SOCIAL SERVICES
After moving into a Habitat home, one study found that families became much less dependent on supplemental social programs. For example, families who used food and nutrition services went from 65% to 43% after moving into their Habitat home — a drop of 34%.
BOOSTS THE ECONOMY
Affordable homeownership has been shown to improve the economy in both direct and indirect ways. In addition to creating jobs, it increases regional spending and local government revenue through additional permits and corporate taxes. For every dollar of direct spending, an additional $1.12 is generated.
COMMUNITY ENGAGEMENT
Homeownership gives people a larger stake in their surrounding community than renting. As a result, residents who can afford to buy a home are more likely to volunteer in their neighborhood and engage in local political activity.
HEALTHCARE COSTS
Unstable housing among families with children will cost the U.S. $111 billion in avoidable health and education expenditures over the next 10 years. Safe, stable, and affordable homeownership helps lower these costs by making it easier to afford basic needs like rent, food, and utilities.
the need
LEARN MORE ABOUT HABITAT FOR HUMANITY AND WHY AFFORDABLE HOMEOWNERSHIP IS SO NEEDED IN THE FOLLOWING RESOURCES.
2023 STATE OF THE NATION'S HOUSING REPORT
Harvard University’s Joint Center for Housing Studies compiled and analyzed the latest data on the state of the nation’s housing. This is a key document for understanding the need for affordable housing in America. SOME OF ITS FINDINGS INCLUDE:The estimated annual income needed to afford median homeownership costs rose 20% to $117,000.
In 2021, 22.7% of homeowners were cost burdened, the highest level since 2012.
Homes for sale are at a record low, especially effecting lower-priced homes.
READ THE FULL REPORT HERE.
CHAPEL HILL AFFORDABLE HOUSING
The Town of Chapel Hill is committed to building a “vibrant and inclusive community where all residents have access to affordable housing and opportunities to thrive.” To fulfill this vision, it’s forming partnerships and funding development that’s creating housing opportunities for all.2022 STATE OF HOME AFFORDABILITY IN NORTH CAROLINA
Habitat for Humanity International collects data on the impacts of housing in each state in the United States. READ THIS REPORT TO LEARN:$19.18 or $39,897 wage is needed to afford fair market rent for a two-bedroom home
Shortage of 46,165 homes relative to demand in the state
READ THE FULL REPORT HERE.
THE 2023 HOUSING NEED IN ORANGE COUNTY
Created by the North Carolina Housing Coalition, this infographic makes it easy to understand the need for housing in Orange County. SOME KEY TAKEAWAYS INCLUDE:52% of renters have difficulty affording their homes
18% of homeowners have difficulty affording their homes
30% of households in Orange County are cost-burdened
CHECK OUT THE FULL INFOGRAPHIC HERE.
donate
Your investment in the Weavers Grove campaign creates more Habitat homeownership in an ideal location in Chapel Hill, on a large scale, and on one of the last available tracts of land in town. You help create a new way to live together as neighbors.
Contact Major Gifts Officer Michael Magoon at 919-932-7077 ext. 235 or mmagoon@orangehabitat.org for questions about pledging your support.