Housing Diversity Corporation

Please join us on February 6, 2024, as we break ground at 7324 MLK Jr. Way S, and a longstanding patch of dirt undergoes its initial transformation into 271 homes for the Othello neighborhood. This event will feature remarks from some of our stakeholders who played vital roles in the project, including Amazon Housing Equity Fund, Allivate Impact Capital, and CEI-Boulos Capital Management, and OZ Navigator followed by a groundbreaking and a lunch. RSVP here: https://lnkd.in/g95xHiiB #CommunityTransformation #OthelloNeighborhood #AffordableHousing #BreakingGround #HousingEquity #InvestingInOurCommunity

As we move into 2025, the housing market shows signs of progress with rising inventory, driven by new construction and shifting homeowner trends. While challenges like affordability and high costs persist, the increased supply has the ability to provide necessary options for renters navigating tight markets, alongside opportunities for buyers. #lahousing #seattlehousing #housingcrisis

Seattle’s population grew by 18,500 last year, reaching 797,700 in April 2024—a 2.4% increase, according to the Washington Office of Financial Management. Across the state, Washington added 84,500 residents, pushing the total population past 8 million for the first time. As cities like Seattle continue to grow, prioritizing affordable and efficient housing options will play a key role in meeting the needs of the rising population. #seattlehousing #housingcrisis #housingoptions

Apartment vacancy rates dropped to 5.3% by the end of September, with renters moving into 153,300 units—72% more than the pre-pandemic average. Despite 472,000 new apartments being added in the past year, demand continues to rise as renter households grow faster than homeowners. This trend presents a key opportunity for cities like Seattle to expand housing options and focus on affordability to meet urban demand. #housingcrisis #seattlehousing #lahousing

Seattle’s economy led U.S. metro areas in growth from 2022 to 2023, with GDP climbing 6.2% to $487.77 billion, fueled by a 15.7% surge in the tech sector and a 14.1% rebound in retail. This rapid expansion creates a prime opportunity to align real estate development with the region’s economic trajectory. As industries like technology and retail thrive, Seattle has the potential to expand housing availability and affordability proportionally, ensuring its residents share in the benefits of the city’s economic success. #seattlerealestate #seattleliving #housingcrisis

In 2023, 51.8% of U.S. renters were cost-burdened, spending over 30% of their income on housing—up from 48.4% in 2019. Of these, 26.4% were severely cost-burdened, spending more than half their income on rent. Despite new housing supply, most units cater to higher income brackets, leaving mid- and lower-priced housing in short supply. With demand outpacing affordability, how can cities like Seattle and Los Angeles close the gap? #housingcrisis #lahousing #seattlehousing

New York City has seen rising rents due to restrictive zoning and high development costs. Property taxes have increased to $13.53 per square foot, and apartment availability has dropped to just 1.4% in the past year. Zoning restrictions can add up to 16% to development costs, creating financial pressure on both developers and renters. These factors limit housing supply, making it more difficult to meet the growing demand for affordable living spaces. As cities work to address housing shortages, finding a balance between zoning regulations and development incentives is essential to keeping housing accessible and affordable. #housingcrisis #lahousing #seattlehousing

Los Angeles voters approved Measure A, a half-cent sales tax expected to generate $1 billion annually for homelessness services and affordable housing, reflecting a focus on sustainable, long-term solutions. Funds will prioritize affordable housing and mental health services, with strict oversight to ensure effective use. This measure demonstrates public support for addressing homelessness through investments in permanent housing and wraparound services rather than punitive approaches. #homelessness #lahousing #housingcrisis

Seattle’s parking problem is compounded by the fact that 80% of residential developments include parking, adding an average of $250 to monthly housing costs. This increases pressure on already limited space, raising costs for residents and making it harder to meet the demand for affordable housing. Encouraging greater use of public transit and designing more walkable areas could help alleviate this burden and foster a more accessible urban environment. #parking #seattlehousing #housingcrisis

In 2024, rents grew by 2.3% through October, with high-demand areas seeing the strongest performance despite challenges from record-high new construction. These markets show that thoughtful, well-placed developments can succeed even as occupancy rates face pressure nationally. How can we continue to meet demand in key cities while creating long-term housing solutions? #housingcrisis #larealestate #seattlerealestate