Here’s what you need to know about the affordable housing event in Raleigh

A forklift passes through the futuristic site of Beacon Ridge, an affordable housing development providing 120 units to low-income families on Wednesday, December 11, 2019, in Raleigh, North Carolina.

A forklift passes through the futuristic site of Beacon Ridge, an affordable housing development providing 120 units to low-income families on Wednesday, December 11, 2019, in Raleigh, North Carolina.

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Would you like to learn more about affordable lodging options in Raleigh?

Saturday August 6 is your chance.

From 9 a.m. to noon, the city’s Department of Housing and Neighborhoods will hold an open house for affordable housing in Chavis Memorial Park at 505 Martin Luther King Jr. Blvd.

The event will provide information on the city’s affordable rental housing, down payment assistance, home repairs, and neighborhood revitalization efforts.

Attendees can also ask employees about small business support, zoning, transportation, or how to get involved in their neighborhoods. The event will also be attended by community partners who provide emergency shelter, homeless rehousing and other public services.

Raleigh wants to create 5,700 affordable housing units by 2026 as part of a 10-year goal set in 2016, or 570 affordable homes annually.

So far, the city is nearly halfway complete with 2,872 affordable homes built as of August. It plans to build another 544 homes by the end of this year, according to the city’s website.

One in three families in Raleigh is considered “cost-burdened,” and spends more than 30% of their monthly income on housing and utilities.

Rents in Raleigh have increased over the past year, with the cost of two-bedroom apartments in Raleigh and Durham up 50% compared to last July, according to The News & Observer. Rent for a two-bedroom unit in Raleigh averages $1,974 a month.

To qualify for restricted-income rental units in the city, the resident’s income must be 80% or less of the area’s median income.

To get an affordable city-owned apartment, the resident’s income must be 60% less than the area’s average income.

For a single person, the median area income of the 60% limit is $44,940 per year. The median income for a district of 80% for a family of four is $59,950.

Saturday’s event will provide kid-friendly activities and a chance to win one of five desktop computers offered by the Cramden Institute.

For more information on affordable housing resources, see the Raleigh City webpage on housing.

This story was originally published August 5, 2022 2:50 pm.

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Kristen Johnson is a reporter on the breaking news team at The News & Observer. She is a graduate of UNC Charlotte and American University.

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