FAYETTEVILLE, NC (WNCN) – There is a need for more affordable housing throughout North Carolina, especially in Fayetteville.
“People’s income and how much it takes for rent or mortgages don’t match up,” said Mitch Colvin, mayor of the city of Fayetteville.
Colvin said about 20,000 people in his city paid 60% or more of their income for housing. Some are homeless or barely making ends meet.
“It’s a recipe for disaster,” the mayor said.
Fayetteville will use $8 million from Housing and Urban Development to create more affordable housing for low- to middle-income families.
“Some of the things that we’re looking at using and putting up in some of the older hotels could serve as multiple accommodations for a lot of families,” Colvin said.
He said that although many city residents can only afford $700 to $800 a month for housing, the market is forcing them to pay much more.
“What we are doing to combat this within the government’s ability is to bring more availability and more inventory to market, which will bring the price down overall,” Mayor Colvin said.
The city is also considering incentives for contractors to build more affordable homes in Fayetteville. The mayor said it was impossible to build enough to solve the problem. He said the solution is both to build more affordable housing and to raise wages/incomes.