Addressing the Affordable Housing Crisis: Why Critical Home Repairs Matter
A [Re]Builder on the RTGC staff provides critical home repairs for a neighbor in need in the Greater Charlotte area. Critical home repairs must not be overlooked in addressing the affordable housing crisis.
The 2024 State of Housing Report from UNC Charlotte paints a stark picture of the challenges we face in our community. As Executive Director of Rebuilding Together of Greater Charlotte, I see these challenges firsthand in the lives of the homeowners we serve. The report underscores the increasing scarcity of affordable housing, highlighting a crisis that threatens the stability of families and the generational wealth tied to homeownership.
The Shrinking Supply of Affordable Homes
One of the most striking findings in the report is the dramatic decline in affordable housing options. In 2014, 75% of homes in our area were priced under $300,000. A decade later, that percentage has plummeted to just 19%. Even more alarming, only 2% of homes are now priced under $150,000, putting homeownership out of reach for most low- and moderate-income families.
As of 2023, the minimum income needed to purchase one of our community's lowest-cost homes (in the 10th percentile) was over $93,000 per year. Compare this to the average household income of the families RTGC served last year: $30,000. The disparity is glaring and heartbreaking.
For many low-income homeowners, their home is their greatest financial asset — a source of stability and an opportunity to pass wealth to the next generation. However, without the resources to afford critical repairs, these homeowners face difficult choices. Selling their home might seem like the only option, but with prices skyrocketing, they would likely be unable to purchase another home in our community. This displacement contributes to declining homeownership rates and erodes generational wealth, further exacerbating inequality.
Why Critical Home Repairs Are Key
When we think about solutions to the affordable housing crisis, building new homes and creating more rental options often dominate the conversation. These are crucial, but they’re not the whole answer. The role of critical home repairs must not be overlooked.
Home repairs address safety hazards, improve accessibility, and preserve the integrity of homes, allowing families to remain in place. By making these repairs accessible and free of charge, organizations like ours ensure that low-income homeowners can stay in their homes and maintain their financial stability.
At RTGC, our mission is to preserve homeownership for families who have built their lives in our community. Whether it’s replacing a roof, repairing structural damage, or installing accessibility modifications, our work prevents displacement and supports the broader goal of maintaining affordable housing stock.
A Call to Action
As we grapple with the findings of the 2024 State of Housing Report, I encourage everyone to reflect on the importance of preserving affordable housing. Supporting organizations like RTGC is one way to make a tangible difference. Together, we can ensure that every family has a safe, healthy, and affordable place to call home.
To learn more about our work, explore the ways you can get involved by donating, making a legacy gift, volunteering, buying merchandise, or attending one of our events.
Let’s build a community where everyone can thrive—one home, one family, one neighborhood at a time.