Ever Hear About Missing Middle?
As interest rates rise and we deal with inflation, we’ve reached a point where
middle-class folks are feeling the hurt a little more. For better or worse, I think it’s economic environments like that where we start to see actual action from our leaders.
The same principle might apply to housing.
Major cities with tight housing markets may seem like they always have new construction happening, but what kind of things are being built? Well, in DC, we do build a decent amount of affordable (read: income restricted) housing – that’s not to say we can’t and shouldn’t build more… we definitely should – but the majority of new construction skews toward high-cost luxury.
Where does that leave regular folks with “middle” incomes? I’m talking about teachers, people who work in local government, and the like. How is a non-profit employee doing important, community-based work for $65,000 a year in a city where you need to make more than $87,000 to
“live comfortably” (or ~$138,000 if you’re a homeowner) expected to make it work in the long run?
That’s where Missing Middle housing comes in. Sort of.
Unlike income-restricted housing, Missing Middle isn’t actually targeted at a specific income level. The idea is this: smaller-sized homes tend to be cheaper to build, and in turn, tend to be more affordable for folks with these mid-range incomes. I’m going to get into what these smaller homes might look like in a bit, but first – why the heck doesn’t this exist already?
For a variety of reasons (mainly related to single-family-home-only zoning rules, related building codes, and the high cost of land), it’s been challenging to entice developers to build things that fall into that Missing Middle category. Many municipalities across the country are in a nascent stage with making Missing Middle happen, and it’s not without opposition from communities. But honestly, today’s newsletter isn’t about the opposition (they get enough attention/power without my help). Today, we’re going to celebrate this cool corner of the housing policy world with some dope pictures.