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Last revised July 24, 2014 <br />Low Income: What does it really mean? <br />• $621 is an affordable <br />rent <br />• Jobs at this wage <br />include Horne Health <br />Aides and Funeral <br />Attendants <br />$24,850 annual <br />30% <br />ofAMI <br />Source: U.S. Bureau of Labor Statistics <br />• $1,036 is an <br />affordable rent <br />• Jobs at this wage <br />include Animal <br />Control Workers and <br />Barbers <br />$41,450 annual <br />income for a <br />family of four <br />1.111 <br />50% <br />ofAMI <br />• $1,596 is an <br />affordable rent <br />• Jobs at this wage <br />include Soil & Plan <br />Scientists and Police <br />Officers <br />$63,900 annual <br />income for a <br />amily of four <br />80% <br />ofAMI <br />While there is little argument over the need for housing affordable to lower income households, there is <br />less agreement over how to create affordable housing, where to locate it, what it should look like and <br />what populations it should serve. Proposed housing developments often meet strong resistance, and <br />proposers and supporters are forced to try to disprove or contextualize negative aspects of affordable <br />housing, regardless of whether they are real or perceived. <br />Some of the common arguments against affordable housing include: <br />Concern: Affordable housing lowers nearby property values. <br />Reality: Research has found that affordable housing has no long-term negative impact on <br />surrounding property values.s'9 Recent research on the relationship between affordable low- <br />income housing tax credit developments located in Dakota, Hennepin, Scott, and Washington <br />counties and single family home sales revealed: average sales prices rose by nearly 5%, <br />demand remained stable, affordable developments did not make it more difficult for owners to <br />sell, and market performance of homes located proximate to affordable development was as <br />strong or stronger than those less proximate in 96% of cases.10 Conversely, properly designed <br />and managed affordable housing can have a positive impact on surrounding property values. <br />The design, management and maintenance of any residential property determines whether or <br />not it is a detriment or asset to its neighbors, regardless of the income of its inhabitants. <br />Concern: Affordable housing leads to higher crime rates. <br />Reality: Research has found that smaller affordable housing properties (50 units or less) have <br />no correlation with increases in crime, but some larger concentrations of affordable units, such <br />8 Agnew, Spencer. 2010. The Impact of Affordable Housing on Communities and Households. Available from: <br />www.mnhousing.gov/idc/groups/secure/documents/admin/mhfa_010263.pdf. <br />9 National Association of Realtors, 2014. Field Guide to Effects of Low -Income Housing on Property Values. <br />Available from: www.realtor.org/field-guides/field-guide-to-effects-of-low-income-housing-on-property-values. <br />10 Family Housing Fund Public Education Initiative. 2014. Affordable Rental Housing Does Not Reduce Property <br />Values: Evidence from the Twin Cities. <br />2040 HOUSING POLICY PLAN I METROPOLITAN COUNCIL <br />DRAFT RELEASED FOR PUBLIC COMMENT Part I: Introduction I Page 12 <br />