Pennsylvania got a boatload of cash to support affordable housing projects. 🏘️ When it comes to dwellings for extremely low-income households, PA's currently in a major shortage. How short are we talking? Roughly 267,000 homes. 😨 That's…a lot.
On a scale from one to Tim "Tool Time" Taylor, it's high time PA focused on home improvement where it counts. 🔨
Here’s Five Fast Facts on the new housing grants:
- 🪚 Fixer Upper - PA state officials received $98 million in funding to build new affordable housing and spruce up the existing supply. Over 3,000 homes statewide will be impacted.
- 💰 Divvy It Up - Funds will be divided amongst counties. For example, York County will get roughly $1.6 million to preserve an affordable apartment complex. Monthly rent at the property ranges from about $920 to $1,060 for a three-bedroom apartment.
- 🏙️ Brotherly Love - Out of all PA counties, Philadelphia got the most funding. The city will receive $39.8 million to support 1,180 affordable units.
- 🚽 Sh*tter's Full! - While some of the cash will go towards new construction, property owners for existing housing units can use funds for interior repairs, installing new appliances, and painting. Owners can also use the money for emergencies like roof replacements, mold removal, and plumbing repairs.
- 🏡 Hey, Shortie - To understand PA's affordable housing shortage, for every 100 extremely low-income households (i.e. a family of four earning less than $26,500 per year), there are only 38 affordable homes available.
🔥Bottom line: While all this sounds promising, a shortage of over a quarter million homes is *quite* large. This round of funding is a great start, but something tells us they'll need a few more (thousand) money trucks to squash the shortage for good. Need a state-issued certificate or license? This new program will refund your fees if the state takes longer than promised!
What do you think about this new funding project?
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