Workforce housing gives shelters to households and families earning more than 60% of AMI or area median income. It goes up to 120 to 150%, depending on the country. Remember that every country has specific rules and regulations to determine this range. Irrespective of the content, the workforce population is those who are serving society in multiple ways. These are the service providers. 

Teachers, police officers, medical practitioners, and firefighters come within the ambit. Hence, it is a combination of different professions. These individuals have stagnant wages and face a lot of hardship to get housing within their affordable capacity. It’s because the housing prices are increasing in leaps and bounds. If you go by recent reports, you will see that around 25% of households belong to this workforce population. The percentage is increasing now and then. Remember that it is at an all-time high in the present scenario and the post-pandemic era.  

Who is the workforce population? 

The workforce population constitutes the service providers. These are teachers, healthcare professionals, police officers, and others. These individuals with standing wages form a significant part of the local economy. They are vital employees who make a mark on society. They look for newly constructed and existing housing falling within their affordability. Remember that the urban core requires workers. 

Various employment centers depends upon these service providers, believe Maxwell Drever. Since the housing options in the urban centers are meager, it is forcing individuals to live away from their job location. It is increasing the commute time along with the cost. When individuals live close to the job location, it reduces the commute time and provides several benefits. It limits traffic congestion and offers them a supportive neighborhood and other opportunities. 

How can society benefit? 

Affordable workforce housing is beneficial not only for the workforce population but also for other sections. Remember that various governmental and non-governmental organizations have addressed this issue surrounding workforce housing. Currently, several policies are introduced at the federal and state level to help investors and real estate agents take up these projects. 

Various local municipalities have started addressing the shortage of affordable homes for middle-class families. Maxwell Drever reflects that countless housing markets, rental homes, and apartments got repurposed into workforce housing. If you look at the global scale, you will see that around 45% of existing properties got repurposed into affordable housing units. 

Affordable workforce housing is beneficial for the workforce population and employers. Remember that these individuals require steady labor in and around the job location. Moreover, they are cautious of traffic congestion and other related problems. Hence, they need laborers and workers close to the industrial hub. 

Along with this, hotel owners can also scan this opportunity to repurpose their rooms into residential units. It will increase their flow of steady revenue. Furthermore, real estate investors can use this opportunity to construct quality, affordable workforce housing. 

Single-family housing units play a significant role in addressing the issue of middle and moderate-income families. These homes provide viable shelter to these individuals coming from far away places. Several companies, local organizations, and municipalities depend upon these homes for several reasons. Hence, it is an issue of every section of society.