Austin (KXAN) — The Austin Board of Realtors further analyzed housing data it reported this summer and found that some city council districts and racial/ethnic groups were affected more heavily by the shortage of affordable housing.
According to ABoR, in August of 2023 more than half of four-person households earning up to 80% of Austin’s median income, around $93,450, faced a severe shortage of homes. That number estimated at 211,023.
Further analysis found the impact of the shortage was not the same across all 10 Austin City Council districts or racial and ethnic groups.
“The magnitude of the shortage is the highest among black or African American households. And then the lowest are the white, non-Hispanic or Latino households and Asian households,” Clare Losey, ABoR housing economist said.
These latest findings show that District 4 in North Austin has the greatest proportional need for new housing in order to meet demand.
ABoR estimates there to be a 65% undersupply of housing, with 27,815 homes are needed to fill that gap.
District 10 in Northwest Austin has the lowest proportional need for new housing with a 39.3% undersupply, and 25,627 homes needed.
ABoR said District 5 in South Austin has the largest number of missing homes at 32,109 with a 53.4% undersupply. Then followed by District 7, which reaches from Central to far North Austin, with 31,130 homes needed and a 51.3% undersupply.
Losey said there are several factors at play such as the high cost of materials needed to build new homes that keep this gap from being closed.
She said there are solutions to the affordable housing shortage, one of them being the formation of down-payment assistance programs.
“Something that could help is eliminating regulations that are going to artificially constrain the ability of Homebuilders or developers to cite new homes or apartment units,” Losey said.